Sumsub: African Cryptocurrency Market Maturing, Fraud Rate Drops by 28%

According to a report by Sumsub, as cited by Jinse Finance, the fourth annual *State of Crypto Industry Report*. Globally, 74% of cryptocurrency providers now prioritize verification accuracy over registration speed (39%), marking a shift in the industry from the early expansion phase defined by a 'growth at all costs' model. The report states that the industry is entering a phase of 'regulatory maturity,' where compliance, fraud prevention, and user experience are increasingly integrated into core product design rather than being treated as separate operational layers. Although fraud remains a global challenge, the report indicates that as cryptocurrency adoption accelerates, fraud patterns in the African market are evolving. Across the continent, the average fraud rate rose from 1.7% in 2023 to 3.6% in 2024, before dropping to 2.6% in 2025, representing a year-on-year decrease of 28%.