Nigerian Minister Calls For Fair Bitcoin Regulation
Clem Agba reportedly said uncertainty in Bitcoin regulation risks depriving government and citizens of plugging into opportunities.A Nigerian minister is calling for friendly Bitcoin regulation that would promote innovation and allow citizens to plug into the network’s opportunities rather than suppress usage of the possibilities enabled by the technology, reported Bloomberg.“Clem Agba, minister of state for budget and national planning, said uncertainty in regulating cryptocurrencies risks denying government and citizens the chance to maximize opportunities from the technology,” per the....
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A minister in the Nigerian government has called on authorities in the country to consider regulating cryptocurrencies instead of clamping down on them.
The Law Does Not Stipulate Who Regulates Cryptos
In what appears to be a rebuke of the Central Bank of Nigeria (CBN) over its stance on cryptocurrencies, a minister in the Nigerian government has called for the regulation of cryptocurrencies.
Rather than clamp down on companies that facilitate crypto transactions, the minister, Clem Agba, argues that forward-thinking regulation would prove more beneficial for....
The Nigerian Government had imposed a ban on crypto exactly a year ago in February 2021. The ban did nothing in terms of putting a lid on cryptocurrency trading; crypto adoption started to look promising in the African country. Stakeholder in Blockchain Technology Association of Nigeria (SIBAN), the Nigerian Blockchain Advocacy Group has now urged […]
The Nigerian blockchain advocacy group, the Stakeholders in Blockchain Technology Association of Nigeria (SIBAN), has said crypto is legit and must be regulated. The group adds that any such regulation should on one hand encourage innovation, but discourage bad actors on the other. Equal Access to Banking and Financial Services The Nigerian blockchain advocacy group, the Stakeholders in Blockchain Technology Association of Nigeria (SIBAN), has implored the Central Bank of Nigeria (CBN) to reconsider its decision to block crypto entities from the banking ecosystem. The group insists that....
India’s finance minister has informed parliament that the central bank, the Reserve Bank of India (RBI), wants cryptocurrencies to be prohibited. However, she noted that “any legislation for regulation or for banning can be effective only after significant international collaboration.”
Indian Finance Minister on Crypto Ban and Regulation
Indian Finance Minister Nirmala Sitharaman answered some questions about cryptocurrency on Monday in Lok Sabha, the lower house of India’s parliament.
Parliament Member Thirumavalavan Thol asked the finance....
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 Activities
A blockchain and crypto industry association has told Nigerian public and law enforcement agencies to stop demonizing and discriminating against blockchain and crypto....