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The collapse of FTX and subsequent calls for tougher regulation by the likes of U.S. Senator Elizabeth Warren have increased the likelihood of regulators adopting even stricter crypto laws. In Africa, crypto industry participants warn of the unintended consequences arising from rushed and over-restrictive regulations. The Game-Changing Role of Crypto in Africa As the crypto … Read more
The Nigerian blockchain and crypto advocacy group, the Stakeholders in Blockchain Technology Association in Nigeria (SIBAN) recently announced the introduction of a code of conduct for Nigerian virtual assets service providers. The code of conduct, which was initiated by the office of the President of Nigeria, applies to all Nigerian VASPs. Making the Nigerian Blockchain … Read more
The leader of the Nigerian blockchain association, Senator Ihenyen, has implored the country’s lawmakers — currently pushing for the securities law to be revamped — to consider crafting laws that regulate the crypto industry. Proposed Law Does Not Expressly Mention Cryptocurrencies As Nigerian lawmakers debate a bill that proposes a ten-year jail term for operators … Read more
Nigeria’s proposed digital currency, the e-naira, is likely to be a welcome boost to ongoing efforts to reduce the number of Nigerians that are financially excluded, a leader of a stakeholders’ body has said. However, according to Senator Ihenyen, the president of Stakeholders in Blockchain Technology Association of Nigeria (SIBAN), the success of such a … Read more
Eighteen housemates of Nigeria’s version of Big Brother took part in a bitcoin quiz with each participant getting $500 worth of BTC as prize money. Big Brother Naija (BBN) reportedly agreed to this unusual step as part of moves to offer more than just entertainment to its audience. As part of BBN’s in-house quiz segment … Read more
Nigeria is not only Africa’s biggest cryptocurrency market but is also a leading adopter of digital currencies globally. Official figures show the country is well ahead of fellow African countries. Citizens of the West African state use cryptocurrencies for cross border payments as well as for international remittances among many growing use cases. However, this … Read more
