Experts urge central bank of Nigeria to regulate cryptocurrency
Published 11 Feb,2021 via The Nation - Experts across various industries have advised the Central Bank of Nigeria (CBN) to regulate but not ban cryptocurrency because of the benefits it offers to innovative youths.
President, Stakeholders in Blockchain Association of Nigeria (SiBAN), Senator Ihenyan, said the group had made efforts since 2017 to engage the CBN to regulate the cryptocurrency market in the country but to no avail.
According to him, regulation is the approach most developed countries have taken which has some come up with a robust regulatory framework. The United States currency regulator recently allowed banks to trade in stablecoins.
Free, in under 30 seconds
Join thousands of professionals reading Salaam Gateway — the Global Islamic Economy Gateway.
Already a member? Sign in
- 5 free articles every month
- Weekly Islamic-economy newsletter
- Save articles to read later
Lucas Ajanaku