Nigeria to legalize digital assets with new bill
The bill recognizes digital assets and gives the apex bank and SEC jurisdiction over the sector, months after CBN banned VASPs from accessing banking services.
The bill recognizes digital assets and gives the apex bank and SEC jurisdiction over the sector, months after CBN banned VASPs from accessing banking services.
On CoinGeek Backstage, NITDA’s Kashifu Inuwa was interviewed about blockchain technology in Africa that he believes will leapfrog the West again.
The securities regulator says it will not include ‘crypto’ in its regulatory framework until it’s better regulated, despite Nigeria being one of the world’s biggest digital currency hubs.
IMF says Africa stands at great risk if it fails to rein in its Bitcoin industry—the fastest growing globally—especially for countries making BTC legal tender.
Bank for International Settlements found that payment system efficiency is the key motivator, but unlike other regions, African central banks see CBDCs as a great tool for monetary policy.
In his presentation, Ahmed Yousif talked about the role of blockchain in government and smart cities, calling on young Nigerians to build their own on the blockchain.
The Centbee co-founder talked about how BSV’s instant transactions and low fees allow any African to easily send money across the world at Digital Nigeria.
From Jimmy Nguyen to Lorien Gamaroff and Ahmed Youssif, BSV blockchain was well represented at the Digital Nigeria event, and the message was clear—it’s time for Africa.
The lack of clarity on CBDCs and virtual currencies among Nigerians led to a slump in eNaira adoption rates, forcing the central bank to offer transport incentives to drive up adoption.
Mohammed Ibrahim Jega has spearheaded BSV efforts in West Africa, including by setting up a lab in Nigeria to foster bold ideas and assembling 1,000 devs to teach them about BSV.
Off a successful inaugural Blockchain Developers Summit, Mohammed Ibrahim Jega tells CoinGeek that Domineum will be anchoring the Nigerian government’s Blockchain Day in October.
Since its launch in October 2021, the eNaira has seen lackluster uptake, and the Central Bank of Nigeria is seeking to remedy this in its latest move.