Local Crypto Stakeholders Advocate Compliance-Based Regulation in Nigeria
Monday, 26 August 2024, 00:13
The Call for Change in Nigeria's Crypto Landscape
Local stakeholders in Nigeria are increasingly advocating for a compliance-driven regulatory framework for the cryptocurrency sector. This push is not just a plea but a necessity, as the industry has faced mounting scrutiny and challenges that stem from a lack of clear regulation.
Key Advocates and Their Vision
- Obinna Iwuno, a prominent advocate, emphasizes that compliance could safeguard investors and encourage responsible innovation.
- Other key figures support creating a transparent dialogue with regulators, aiming to demystify cryptocurrency.
Benefits of Compliance over Criminalization
This transition to a compliance-based approach is expected to promote better governance, attract institutional investments, and ensure that Nigeria remains competitive in the global crypto market.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.