Stakeholders urge Nigeria to adopt compliance-focused crypto regulation

While the governments concerns are valid, industry stakeholders agree that a more measured approach could yield better outcomes.

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OKX's exit From Nigeria sparks criticism from crypto analysts

OKX stopped Naira withdrawals in May 2024 due to regulatory issues after Binance was accused of manipulating Nigerias currency and laundering money.

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Crypto enthusiasts warn against naira trade ban on exchanges

Due to the rapid decline of the naira and the resulting almost three-decade-high inflation rate of 29.9%, the Nigerian government has turned its focus to platforms providing cryptocurrency services.

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Nigerias SEC boss says crypto can aid 38M unbanked

Emomotimi Agama noted that cryptocurrencies like Bitcoin can considerably lower remittance costs, making it easier and cheaper for Nigerians abroad to send money home.

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Nigerian SEC announces new rules, compliance program for digital assets

While this application process is intended to improve compliance, VASPs are directed to complete it no later than 30 days from the circular date.

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Crypto exchanges to meet Nigerian SEC chief for regulatory talks

The meeting is expected to ignite positive changes that benefit all crypto stakeholders in Nigeria and internationally.

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IMF backs Nigeria crypto adoption amid local SEC crackdown

The IMF recommendation sets out to remedy the macroeconomic challenges Nigeria faces while attracting global investment.

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Nigeria Extends Binance Tax Case in High-Stakes Legal Clash

Nigeria has once more escaped a public court face-off with the Binance global cryptocurrency exchange, postponing the tax evasion issue until after April 30. The wait, as noted in a recent report by Reuters, is due to a delay stemming from a Binance lawsuit in regards to a prior court ruling allowing the Federal Inland […]

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Nigerian Agencies Told to Stop ‘Demonizing’ Crypto Industry Players

Nigerian public and law enforcement agencies have been urged to “stop the demonization” of the blockchain and cryptocurrency industry. According to an association that advocates for the risk-based regulation of the crypto industry, financial institutions should not use a Nigerian central bank directive as basis for denying service to industry players. Risk-Based Regulation of Crypto… More

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Coinbase CEO Says No Access Block in Nigeria, Platform Operating Normally

Coinbase CEO Brian Armstrong has dismissed reports of his cryptocurrency exchange being blocked by Nigerian authorities. He emphasized that Coinbase products are fully operational in Nigeria without any interruptions. “We have not received any outreach or communication from officials in Nigeria,” the Coinbase executive affirmed. Meanwhile, Binance has reportedly admitted that some users in Nigeria [...]

The post Coinbase CEO Says No Access Block in Nigeria, Platform Operating Normally appeared first on Crypto Breaking News.

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Nigerian Crypto and Web3 Startup Lazerpay Shuts Down After Failing to ‘Close a Successful Funding Round’

The Nigerian crypto and Web3 startup Lazerpay announced on April 13 that it will cease operations. Co-founder and CEO Njoku Emmanuel said the decision to cease operations was made after Lazerpay failed to successfully close a funding round. The CEO also said he is ready to listen to offers from companies that may want to [...]

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