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Bitcoin Ban In Nigeria: What Has Modified?



An order from the Central Financial institution of Nigeria (CBN) barring financial institutions from servicing cryptocurrency transactions, successfully “banning Bitcoin” within the nation, withstands greater than 16 months later, regardless of the Nigerian Safety and Change Fee (SEC) recently releasing new regulations for digital assets and the continued significant adoption and use of Bitcoin in the country.

How Will The Newest Regulation In Nigeria Affect Bitcoin?

Final month, the Nigerian SEC released a set of laws aimed toward governing the issuance, change and custody of digital belongings there. These new units of digital belongings laws are a follow-up to a September 14, 2020 commitment to work on regulation that might resolve lots of the perceived issues with the cryptocurrency market in Nigeria.



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