Cryptocurrency Analysis and News Portal
By Marcus Sotiriou, Market Analyst at the publicly listed digital asset broker GlobalBlock (TSXV:BLOK). Bitcoin broke below $17,000 over the weekend as it is hovering around $16,700 at time of
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If passed, the proposed Investments and Securities Act, 2007 (Amendment) Bill, will also define supervisory roles for the Central Bank of Nigeria and the securities and exchange commission (SEC) with respect to digital currencies, Babangida Ibrahim, chairman of the House of Representatives Committee on Capital Market and Institutions, told Punch. Source
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If the suggested regulation efficiently solves the increasing Bitcoin use in the country, it possesses the power to catalyze the economy of Africa’s most populated country.According to a native Nigerian newspaper, the chairman of the House of Representatives Committee on Capital Markets and Institutions of Nigeria, Babangida Ibrahim has announced
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The Nigerian government will reportedly soon pass a law that will recognize the usage of Bitcoin (BTC) and other cryptocurrencies as a means to keep up to date with “global practices.”The news was reported by Nigerian-based masthead Punch Newspapers on Dec. 18 following an interview with House of Representatives Committee
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In a new directive to financial institutions, the Central Bank of Nigeria (CBN) said individuals can now only withdraw an equivalent of just under $222 per week while corporates can only withdraw cash not exceeding $1,111 during the same period. The new limits, which are in line with the CBN’s
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As emerging markets take the lead in crypto adoption, Ghana, a country located in West Africa, may soon catch up to other African countries regarding cryptocurrency use. In a report released by blockchain analytics platform Chainalysis, researchers found that Ghana has the potential to achieve crypto adoption levels similar to Kenya
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Authorities in Nigeria have been told to consider upgrading the country’s cryptocurrency regulatory guidelines because current regulations are not consistent with the realities on the ground. According to legal experts, the growing interest in cryptocurrencies by Nigerians means the country needs to have “clear-cut guidelines” for the industry. Nigerians Continue to
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The west African country has held discussions with Binance about creating something similar to Dubai’s virtual commercial city. Source
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The Nigerian government has held a preliminary meeting with crypto exchange Binance to potentially establish a special economic zone aimed at supporting crypto and blockchain-related businesses.According to a Sept. 2 post from the Nigeria Export Processing Zones Authority (NEPZA), the authority has held preliminary talks with Binance and technology infrastructure
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The eNaira, Nigeria’s central bank digital currency (CBDC), will enter the second phase of its expansion with new technology to beef up its user base, Nigerian Central Bank governor Godwin Emefiele said Thursday, speaking at the 2022 eNaira Hackathon in Abuja. The eNaira, Africa’s first CBDC, was launched in October
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