The post Crypto Regulation In Nigeria In 2024 appeared first on Coinpedia Fintech News
Since Bitcoin’s advent in 2009, Cryptocurrency has noticed an interesting shift at every instance. Governments worldwide have understood the importance of digital assets and wish to formulate rules, policies, and regulations dedicated to the blockchain and crypto space. Africa’s most populous country, Nigeria, is not behind! The Country’s tech-savvy and pro-blockchain youth is eager to adopt crypto, hence, the country is all into outlining the framework for governing virtual assets.
In this module by Coinpedia, we will discuss the crypto regulations in Nigeria in 2024! Let us dive in.
Is Bitcoin Legal In Nigeria?
Cryptocurrencies are not legal tender in Nigeria as they are not recognized by the Central Bank of Nigeria (CBN). The CBN completely banned commercial banks from engaging in any crypto transactions in 2021. The financial system and banking sector of Nigeria is not linked t
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