Nigerian Blockchain and Crypto Association Introduces a Code of Conduct for V...
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 Industry a Safe Space The Nigerian blockchain group, the Stakeholders in Blockchain Technology Association in Nigeria (SIBAN) has introduced what it called a code of conduct for virtual asset service providers....
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The Australian Digital Currency and Commerce Association (ADCCA) is recommending a code of conduct for bitcoin companies on account of the inability of the Igot bitcoin exchange to deliver bitcoins people paid for or refund their money, according to ABC. Igot clients said the exchange owes them hundreds of thousands of dollars. The exchange has been unable to deliver on purchases or provide refunds for months. The exchange was launched in 2013, according to its website. Nicholas Giurietto, ADCCA chief executive, said Igot customers have been devastated. The association expects to have a....
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....
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 of Ponzi schemes, a leader of a Nigerian blockchain lobby group, Senator Ihenyen, has urged the country’s lawmakers to consider crafting a law to govern the cryptocurrency industry. He....
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....