LBank Welcomes Nigeria’s Push to Recognize Crypto as Investment Capital

2022-12-25 15:03

Nigeria has put forward a significant legislation design that will further facilitate cryptocurrency adoption in the country with over 200 million inhabitants.

Why this matters: If the Investments and Securities Act, 2007 (Amendment) Bill passes, the Nigerian securities and exchange commission (SEC) will recognize cryptocurrencies and other digital assets as capital for investment.

Babangida Ibrahim, Chairman of the House of Representatives Committee, shared in an interview with local media outlet Punch, that the proposed bill will specify the roles of the Central Bank of Nigeria and the country’s SEC in regard to cryptocurrencies. Ibrahim stated that the bill is not a complete shift away from restrictive laws in place, only a review of what could be done within the current legal framework. However, he does believe that Nigeria must keep up with global economic innovations. Notably, the Nigerian Export Processing Zones Authority (NEPZA) stated in a press release in September that it considered partnering with crypto exchange Binance to create a virtual free zone to promote economic growth. 

Go deeper: The legal blueprint comes at a time when Nigeria has spent almost 2 years under a cryptocurrency ban for financial institutes, and the country’s CBDC, the eNaira, has failed to reach widespread adoption.

Since the launch of the CBDC in October 2021, it currently sits at an adoption rate of only 0.5% among the population.  Further endorsement of the eNaira could be hampered by the legal blueprint. “This bill is basically going to create more adoption of cryptocurrencies. Through regulation of this asset class, we might start to see taxing and legal registration if you want to build something in the blockchain space,” says Anointing Aha, Community Manager for Nigeria at global crypto exchange LBank.  For now, Nigeria seems to be moving towards further adoption, but nothing is set in stone. “Nigeria’s presidential election is coming up early next year, and a lot will depend on the new president,” Aha adds.

The post LBank Welcomes Nigeria’s Push to Recognize Crypto as Investment Capital appeared first on BeInCrypto.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

First Bitcoin Capital (BITCF) на Currencies.ru

$ 0.01244 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0.01244 - H: $0.01244
Капитализация $0 Rank 99999
Доступно / Всего 0 BITCF

capital securities investment nigeria recognize act amendment

Источник: beincrypto.com

capital securities → Результатов: 126


Фото:

How Decentralized Finance is Helping DeFi Startups Raise Capital on the Orbeon Platform

DeFi, or decentralized finance, refers to using smart contracts and blockchain technology to raise and issue securities such as stocks or bonds, usually done by big institutions. With this development in finance, startups can now raise capital without going through traditional fundraising methods, such as venture capitalists (VCs).

2022-11-3 15:24


Chicago Crypto Capital Employees Sued by SEC for Fraud & Unregistered Offering Sale

DeFi advisory firm. Chicago Crypto Capital and its three employees are being sued by the Securities Exchange Commission (SEC) for fraud and conducting an unregistered offering. The post Chicago Crypto Capital Employees Sued by SEC for Fraud & Unregistered Offering Sale appeared first on BeInCrypto.

2022-9-16 22:00


СМИ: Citadel Securities создаст «экосистему» для торговли криптовалютами

Маркетмейкер Citadel Securities, дочерняя структура хедж-фонда Citadel, намерен создать «экосистему» для торговли криптовалютами. Об этом пишет CoinDesk со ссылкой на источники. По словам одного из них, в числе партнеров — специализирующаяся на высокочастотной торговле и маркетмейкинге Virtu Financial, а также венчурные фирмы Sequoia Capital и Paradigm.

2022-6-9 12:32


Фото:

Timo Lehes says SEC rejected VanEck’s BTC ETF because the market is not ready

Timo Lehes, the Managing Director at Swarm Capital, believes the US Securities Exchange Commission (SEC) rejected VanEck’s Bitcoin ETF because the market is not ready. Lehes shared his sentiments earlier today, noting that the authority appears unwilling to expose consumers to BTC’s spot market because it is still uncomfortable with manipulation in BTC’s market.

2021-11-18 01:14


Morgan Stanley поддержал платформу токенизации Securitize в раунде на $48 млн

Провайдер технологий выпуска security-токенов Securitize привлек $48 млн по итогам раунда финансирования Серии B. Wall Street and venture capital converged in powering Securitize’s oversubscribed $48 million Series B capital raise, signaling consensus adoption of digital asset securities will continue to grow.

2021-6-22 16:01


Фото:

JMP Securities Expects $1.5 Trillion to Flow Into Bitcoin as Retail Wealth Management Industry Follows Morgan Stanley to Offer BTC to Clients

JMP Securities has predicted that “$1. 5 trillion of incremental capital” could flow into bitcoin, an amount greater than the cryptocurrency’s current market cap. The firm sees more wealth management companies following Morgan Stanley’s example to offer bitcoin to their clients.

2021-3-25 21:30


Фото:

MicroStrategy Targets $400 Million In Capital Raise, Intends To Use Proceeds To Buy More Bitcoin

Business intelligence firm MicroStrategy is looking to boost its war chest with a capital raise. The company revealed on Monday that it is planning to sell $400 million in convertible senior notes — debt securities that can be converted into the issuing company’s shares — to “qualified institutional buyers” only in a private sale. MicroStrategy […]

2020-12-8 15:04


DeFi-проект 1inch привлек $12 млн при поддержке Pantera Capital

Агрегатор ликвидности с децентрализованных бирж 1inch объявил об успешном закрытии раунда финансирования, по результатам которого привлек $12 млн венчурных инвестиций. Раунд возглавила инвестиционная компания Pantera Capital, в числе других участников ParaFi Capital, Nima Capital, LAUNCHub Ventures, Spark Capital, gumi Cryptos, Fabriс Ventures, Struck Capital, Rockaway Blockchain Fund, Spartan Capital Securities, Blockchain Capital, а также бизнес-ангелы Джош Ханна, Каин Уорик Александер Пэк.

2020-12-2 17:00


Фото:

Thailand’s New Rules Help Securities Companies Launch Crypto Exchanges

Thailand has reportedly revised its net capital rules which help securities firms launch cryptocurrency exchanges. The country now has 15 licensed crypto service providers. New Thai Rules and Crypto Exchanges The Thai Securities and Exchange Commission (SEC) has revised its net capital (NC) rules which help securities companies provide crypto services, the Bangkok Post reported […] The post Thailand’s New Rules Help Securities Companies Launch Crypto Exchanges appeared first on Bitcoin News.

2020-11-20 04:15


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Top 5 AI Staking Platforms for 2024: Expert Reviews & Rankings

In the dynamic world of crypto staking, AI-driven platforms are reshaping how investors can get maximum returns with minimal effort. By combining advanced algorithms and smart insights, these platforms offer automated solutions for beginners and experienced crypto investors alike.

Venus Protocol Secures Significant ARB Grant from Arbitrum Foundation to Accelerate Growth

Venus Protocol, one of the Top 5 decentralized finance (DeFi) lending platforms, today announced it has been approved for a grant from the Arbitrum Foundation. This grant comes on the heels of Venus Protocol’s successful deployment on the Arbitrum network earlier this year and underscores the platform’s commitment to expanding its services within the Arbitrum … Continued The post Venus Protocol Secures Significant ARB Grant from Arbitrum Foundation to Accelerate Growth appeared first on BeInCrypto.