The U.S. Securities and Exchange Commission’s expected approval of bitcoin exchange-traded funds and Nigeria’s lifting of a directive which excluded the crypto industry from the banking ecosystem are expected to help revive African users’ interest in crypto. The Bitcoin halving event, which is expected to occur sometime in April 2024, will again prove to be pivotal in setting the top crypto asset’s trajectory in 2024.
Nigeria’s New Stance on Crypto Bodes Well for Africa
After experiencing a rocky first half of the year punctuated with startup failures and increased regulator scrutiny, the African crypto and blockchain industry looks poised to start 2024 with renewed hopes and expectations. And nowhere else on the African continent is this renewed optimism more profound than in Nigeria.
Since the removal of the former governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, sometime in June, the central bank’s new boss, Olayemi Cardoso, has taken on a more conciliator
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