The Nigerian Blockchain Technology Association (SIBAN) said that cryptocurrency is legal and should be regulated.
by SIBAN 5 February on the official website in a statement cryptocurrencies in Nigeria is legal and needs to be regulated specified. In the statement made by SIBAN;
Our message on the 1st anniversary of the Central Bank of Nigeria (CBN) directive regarding cryptocurrency in Nigeria: Crypto is legal.
made statements.
Nigeria Blockchain Technology Association (SIBAN), blocking crypto assets and derivatives from the banking ecosystem as part of its call to the Central Bank of Nigeria (CBN) to reconsider its decision. wanted. SIBAN, any regulation to be made innovative one promoting innovation to do and to deter malicious people He added that it should be directed towards
SIBAN included the following statements in the text of the message it published on its website:
Crypto products and services, we advocate crypto regulation, not ban or restriction against cryptocurrency innovation in Nigeria. We support virtual asset service providers (VASPs) equal access to banking and financial services in accordance with the Nigerian Constitution, applicable laws, particularly Nigeria’s anti-money laundering and terrorist financing (AML/CFT) laws. Among other benefits, this approach will assist investigations by our law enforcement agencies, including the Nigerian Police and the Economic and Financial Crimes Commission (EFCC).
After the cryptocurrency bans of the Central Bank of Nigeria, Binance CEO Changpeng Zhao shared a post on the subject in February of last year. CZ announced in his post that the Nigerian partners of the company will “enable Naira deposits and withdrawals”.
