Chris Maurice, CEO of Yellow Card, believes the emergence of a crypto-friendly government in the U.S. will prompt African regulators to establish rules for the sector.
African Regulators Seen Following U.S. Lead
The recent emergence of a crypto-friendly government in the United States is likely to prompt regulators across Africa to establish rules for the sector, according to Chris Maurice, CEO of the Africa-focused digital asset platform Yellow Card. Maurice stated that the shift in attitude from both regulators and traditional banks gives his company confidence about the future of crypto on the continent.
The Yellow Card CEO made these remarks just as U.S. President Donald Trump signed an executive order (EO) aimed at enhancing America’s leadership in digital asset innovation and blockchain technology. As reported by Bitcoin.com News, the EO requires U.S. agencies to reevaluate existing regulations related to digital assets and present proposed updates within 60 days.
According to Bloomberg, Maurice’s comments came just hours after the U.S. Securities and Exchange Commission (SEC) announced the launch a cryptocurrency task force. The task force is expected to help the Commission establish clear regulatory guidelines, provide realistic paths to registration, and create sensible disclosure frameworks.
The change in America’s approach to crypto under Trump is likely to influence African regulators, who often wait for the U.S. to unveil its regulations before announcing their own. In fact, Maurice claims to have observed this change in sentiment, particularly among traditional banks, since Trump won the U.S. presidency in early November 2024.
“We’re having conversations with banks and other major financial institutions that a couple of months ago, they didn’t want to hear about crypto, they didn’t want to talk about it. Now these guys are calling us, they’re interested. They want to understand how they get into space. I think obviously part of it is the Trump effect,” Maurice said.
Meanwhile, the Yellow Card CEO expressed hope that his platform will receive approval to operate from Nigeria’s securities regulator. In August 2024, Nigerian authorities granted local digital asset exchanges Busha and Quidax permission to operate in the West African nation. However, the head of Nigeria’s securities commission has vowed to issue more licenses in 2025.
Regarding the continent’s growing use of cryptocurrencies, particularly stablecoins, Maurice suggested that the “Trump effect” will help African countries maintain their lead in the crypto market.
