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Nigeria

Court Law generic 1

10 Jun 23

Nigeria SEC declares Binance operations in country illegal

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The Securities and Exchange Commission (SEC) of Nigeria has officially deemed the operations of Binance Nigeria, a subsidiary of the world’s largest crypto trading platform Binance, illegal. According to a statement released on the SEC’s website on July 9, Binance has been promoting […]

eNaira and the state of crypto in Nigeria amid a financial cr

04 May 23

Nigeria finally implements its blockchain policy

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The Nigerian government has approved its national blockchain policy. It aims to institutionalize blockchain technology and its components in the nation. Nigeria, the most populous country in Africa, is finally ready to bring regulatory clarity to its blockchain industry and lay […]

BitMake1

01 May 23

Nigeria considers digital exchanges for asset-backed tokens

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Nigeria’s Securities and Exchange Commission (SEC) is reportedly looking to license digital exchanges to enable the issuance of asset-backed tokens in the country. Legalizing bitcoin (BTC) and other cryptos is not in the regulator’s plans in the short term. SEC to […]

eNaira and the state of crypto in Nigeria amid a financial cr

21 Mar 23

ConsenSys and MoonPay enable crypto purchases in Nigeria via MetaMask

ConsenSys and MoonPay have partnered to allow Nigerians to buy bitcoin (BTC) and other cryptocurrencies from MetaMask and Portfolio dapp using direct bank transfers. The Central Bank of Nigeria (CBN) is yet to lift its ban on crypto transactions. The Ethereum (ETH) software company, ConsenSys, has joined forces with MoonPay, a digital assets-friendly fiat on-ramp, […]

eNaira and the state of crypto in Nigeria amid a financial cr

24 Feb 23

Nigeria tries to enforce cashless society with CBDC eNaira amidst financial disaster

Nigeria, Africa’s most populous nation and largest economy, is currently facing a financial crisis that has underscored the importance of cryptocurrencies for its population of over 219 million. Despite the government’s launch of a central bank digital currency (CBDC), the eNaira, citizens have shown little interest and have instead turned to mainstream crypto assets, despite […]

Legislation Regulation generic 3

11 Jan 23

Nigeria to regulate stablecoins and ICOs

Nigeria highlights its plans for regulating stablecoins, initial coin offerings (ICOs), and the possibility of creating foreign direct investment through cryptocurrencies. The document titled “Nigeria’s payments system vision 2025” complements the country’s previous efforts to regulate the largest crypto market in Africa. In 2021, the country’s central bank prohibited local financial institutions from facilitating all […]

Legislation Regulation generic 1

21 Dec 22

Nigeria passes amendment bill to regulate crypto

The Central Bank of Nigeria (CBN) banned the use of crypto assets with the rise of the #ENDSARS movement in the country. Babangida Ibrahim, chairman of the House of Representatives Committee on Capital Markets and Institutions, finally, stated that the government “will soon” decide on legalizing cryptocurrencies. According to the Nigerian magazine Punch, the country’s […]

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