SiBAN calls for 12-month review of Nigeria’s virtual asset tax rules to track market impact

businessday.ng Aug 22, 2026

SiBAN calls for 12-month review of Nigeria’s virtual asset tax rules to track market impact

Curated by Shubham · TechCapsules · Aug 22, 2026

AI-summarised brief · reviewed before publication

The Stakeholders in Blockchain Technology Association of Nigeria (SIBAN), led by President Mela Claude Ake, has urged the federal government to institute a twelve‑month review of the country’s virtual‑asset tax framework. The association argues that the current rules, introduced in early 2024, lack sufficient data on their effect on cryptocurrency trading volumes, compliance rates, and investor behavior. SIBAN proposes a joint task force with the Federal Inland Revenue Service and the Central Bank of Nigeria to collect market metrics, assess revenue generation, and recommend adjustments before the next fiscal cycle. The call follows mounting pressure from industry players who claim the tax has stifled innovation and driven activity to offshore platforms. The review is slated for submission to the Ministry of Finance by mid‑2027.

💡 Why It Matters

· A timely audit could prevent capital flight and preserve Nigeria’s ambition to become Africa’s fintech hub.

Read full article on businessday.ng

Algorand 5.0 Expands App and Transaction Limits (ALGO)

Algorand activated version 5.0 on August 22, 2026, delivering a suite of upgrades. The maximum smart‑contract size doubled to 16 KB by expanding program pages from three to eight, and apps can be updated if flagged as updatable, including global state schemas. Transaction arguments per call grew from 2 KB to 16 KB, and LogicSig programs now fit within a single 16 KB transaction, removing the need for multi‑transaction grouping. A usage‑based fee model charges larger transactions according to their resource consumption, while minimum fees for operations stay unchanged. Version 5.0 also introduces AVM v13, the Poseidon2 hash function, and aligns the roadmap with a 2027 target for post‑quantum security. Market reaction has been muted, with ALGO trading at $0.092051, down 1.87 % in 24 hours.

💡 The expanded contract capacity and streamlined fee structure lower technical barriers, enabling more sophisticated dApps that could accelerate Algorand’s ecosystem growth.

ign.com · Aug 23

GTA 6 Leaker Releases More Gameplay Videos Despite Rockstar Owner Take-Two’s Microsoft…

The entity known as ‘CyberLeek’ released two additional Grand Theft Auto 6 gameplay videos on August 22, defying legal pressure from publisher Take-Two Interactive. The new clips feature supercar driving, armed robbery, and strip club scenes, with one cutscene appearing to mock the publisher. These are the seventh and eighth leaks this week, all promoting a ‘CyberLeek’ memecoin in what analysts view as a crypto scheme. In response, Take-Two served DMCA subpoenas to Microsoft and Discord, seeking user identification records. The US District Court for the Southern District of New York granted the Microsoft subpoena on August 21. Xbox CTO Scott Van Vliet confirmed cooperation with Take-Two to protect intellectual property. Discord stated it complies with valid subpoenas. Despite internal frustration, Rockstar does not know the leak source. Netflix will proceed with its exclusive extended look on August 27. GTA 6 remains scheduled for release on PlayStation 5 and Xbox Series X|S on November 19, 2026.

💡 The leaker’s deliberate mockery and continued uploads despite active federal subpoenas suggest a coordinated effort to maximize crypto token value over mere notoriety. This escalates the incident from a standard copyright breach to a complex financial fraud operation targeting the gaming community.

gamesradar.com · Aug 21

GTA 6 leaker Cyberleek is now charging a $165,000 fee for a…

Anonymous group known as Cyberleek, responsible for leaking unreleased Grand Theft Auto VI footage, has opened a public contact page and begun charging advertisers a fee of 400 Monero—about $165,000—to place ads on future leaks. The leaker says the payment guarantees a response within 24 hours and that ad content may include gambling, adult material or custom gameplay clips. Cyberleek frames the model as “community support and strategic partnerships” rather than a ransom, and directs negotiations to the encrypted messenger Session. The move follows recent subpoenas from Take‑Two Interactive demanding Microsoft and Discord provide data that could identify the source of the leaks. Cyberleek’s website warns that deals are finalized privately and that the fee is a “contact fee.” for interested advertisers worldwide.

💡 By monetizing illegal game footage, Cyberleek turns a piracy leak into a high‑stakes advertising marketplace, forcing publishers to confront a new revenue‑driven threat to their IP.

analyticsinsight.net · Aug 20

Who Pays Ethereum When Rollups Move Transactions Off-Chain?

Ethereum rollups such as Arbitrum, Base and Optimism process most user transactions but they still rely on Layer 1 for data availability, settlement and security. Users pay fees to the rollup, which include a Layer 2 execution component and a charge for publishing transaction data to Ethereum. Rollup operators collect these fees and later settle batches of transactions on L1, paying Ethereum in ETH. The settlement uses EIP‑4844 blobs, whose fee market lowers data‑storage costs; historically over 90 % of rollup costs were for Ethereum data storage. Zero‑knowledge rollups add the expense of generating and verifying cryptographic proofs, consuming 500 k gas per batch. By aggregating transactions, rollups keep user fees low while Ethereum continues to earn fees from batch settlement and data storage.

💡 Ethereum’s ability to monetize cheap blob storage enables rollups to slash fees dramatically, paving the way for scaling to hundreds of thousands of transactions per second.

memeburn.com · Aug 20

Robinhood Agentic Trading Now Supports Crypto, Letting AI Agents Trade Digital Assets…

Robinhood announced on August 17, 2026 that its Agentic Trading platform now supports cryptocurrency for eligible U.S. users, extending AI‑driven execution beyond equities and options. The feature creates a dedicated “Agentic Account” that is isolated from a user’s main brokerage holdings and can only access funds deposited into that account. Through the Trading MCP (Model Context Protocol) server, agents built on Claude, ChatGPT, Codex, Cursor, Grok and other compatible clients can research tickers, construct thematic portfolios and place crypto trades 24 hours a day, seven days a week. Users receive push notifications for every transaction, can view real‑time profit‑and‑loss in the app, and may terminate the agent with a single tap. Limited margin is available using unsettled stock or option proceeds, but leverage and borrowing remain disabled. Up to ten separate Agentic Accounts can be maintained per user, each with its own budget.

💡 It gives retail investors automated access to nonstop crypto markets, a capability previously limited to professional traders and bots.

techcrunch.com · Aug 20

Binance now lets AI agents trade, but keeping them in check is…

Binance, the world’s largest cryptocurrency exchange, launched Agent OS on Thursday, enabling AI agents to analyze markets and execute trades on behalf of its 300 million registered users. The platform integrates existing tools like Binance APIs and Wallet Agentic Hub with new support for the Model Context Protocol, allowing compatibility with OpenAI’s ChatGPT and Anthropic’s Claude Code. Users authorize agents to access market data and trade via dedicated sub-accounts, which block withdrawals by default to protect funds. While Binance monitors trading activity, it cannot see the agents’ internal reasoning, placing the burden of security on users to set granular permissions. The system supports spot and futures trading, with no separate loss caps beyond sub-account balances. For decentralized finance and payments, Binance imposes daily limits: $50,000 for swaps, $100,000 for DeFi, and $20 for x402 payments. This move positions Binance as a key infrastructure provider for autonomous AI financial applications.

💡 By shifting liability for AI trading errors to users through sub-account isolation, Binance establishes a precedent for how exchanges manage autonomous agent risk. This approach forces developers and traders to manually configure safety rails rather than relying on centralized oversight of algorithmic decision-making logic.