El Salvador Ranks Top in Bitcoin Searching on Google, Follows by Nigeria
The growing interest in Bitcoin continues to draw attention from the public as El Salvador takes the helm of Google searches.
Nigeria's Central Bank Freezes Bank Accounts Linked to Suspected Illegal Crypto Traders
The central bank of Nigeria has ordered a directive to freeze the bank accounts associated with two individuals and a firm suspected of illegally engaging in crypto trading.
(Repeated) Nigeria Tops in Global Crypto Ownership, With Nearly Half of the Population Being Crypto Users or Owners
With cryptocurrencies being one of the technological innovations taking the world by storm, Nigeria takes the lead in terms of crypto ownership, according to Statista Global Consumer Survey.
Nigeria Passes Bitcoin And Cryptocurrency Law
The Nigerian government will soon legalize Bitcoin and other cryptocurrencies. Punch Newspapers of Nigeria announced the news on December 18 after interviewing House of Representatives Committee on Capital Markets Chairman Babangida Ibrahim. If passed, the local Securities and Exchange Commission might consider cryptocurrencies and other digital monies as investment capital.
Nigeria Plans to Regulate Digital Asset Platforms
Nigeria’s SEC is considering new regulations for digital asset platforms, allowing licensed digital exchanges to list tokens backed by certain assets. Cryptocurrencies like Bitcoin and Ether will not be among those assets. Nigeria aims to register fintech firms as digital sub-brokers, crowdfunding intermediaries, fund managers, and tokenized coins issuers. Crypto exchanges will not be registered until the central bank provides clear regulations.
Binance Faces Intensified Scrutiny in Nigeria Amid Accusations of Impacting Local Currency
Binance is under heightened scrutiny in Nigeria, with allegations of contributing to the naira's devaluation, challenging the crypto exchange's regulatory dialogues.
Nigeria Releases New Rules Classifying Crypto as Securities
In a move that might boost crypto trading in Nigeria, the nation’s Securities and Exchange Commission (SEC) has rolled out “rules on issuance, offering platforms, and custody of digital assets” for virtual firms.
Nigerian Crypto Investors Face Account Freezing
Nigerian crypto investors using P2P services are concerned about the Central Bank of Nigeria (CBN) flagging their bank accounts due to their connection to the Flutterwave hack. The situation has discouraged P2P users from using OTC markets, causing businesses to crumble and possible legal repercussions.
Nigeria's E-Naira Gains Momentum, Tackles Influence of Volatile Cryptos
Nigeria's further efforts to curb the influence of cryptocurrencies have begun to bear fruits as its introduction of a centralised digital currency eNaira has lured about half a million users within three weeks.
Nigeria’s Unity Bank Collaborates with Binkabi for Blockchain-Based Agricultural Solutions
Nigeria's Unity Bank has partnered with Binkabi so that blockchain-based agricultural solutions can be availed in this nation.
China Financial Institutions Bars Crypto as Payment Tools
Three major regulatory bodies in China have prohibited banks and financial firms to provide cryptocurrencies transaction services.
Nigeria’s eNaira Records 200,000 Transactions Worth Over $10 Million Since October
Based on eNaira’s success, Nigeria government is taking efforts to boost the functional capacity of the Central Bank Digital Currency (CBDC).