{"id":119594,"date":"2020-11-25T01:22:15","date_gmt":"2020-11-24T22:22:15","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/nigeria-is-establishing-a-framework-for-widescale-crypto-adoption\/"},"modified":"2020-11-25T01:22:15","modified_gmt":"2020-11-24T22:22:15","slug":"nigeria-is-establishing-a-framework-for-widescale-crypto-adoption","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/nigeria-is-establishing-a-framework-for-widescale-crypto-adoption\/","title":{"rendered":"# Nigeria is establishing a framework for widescale crypto adoption"},"content":{"rendered":"<p>&#8220;<strong># Nigeria is establishing a framework for widescale crypto adoption  <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjAtMTEvZjY0YTUxZGMtZDViOC00YzUzLWE2MDAtN2QwZWJlOWVkYmNiLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-5a136f3a>Nigeria\u2019s Finance Ministry is reportedly in talks with the country\u2019s securities regulator to develop a new framework for blockchain and cryptocurrencies &#8212; a move that could accelerate adoption in Africa\u2019s largest economy.\u00a0<\/p>\n<p>Business Day, a Nigerian market intelligence publication,\u00a0<a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/businessday.ng\/technology\/article\/ministry-of-finance-backs-secs-move-to-regulate-cryptocurrency-space-in-nigeria\/\">reported<\/a> Tuesday that the Ministry of Finance is working with the Abuja-based Securities and Exchange Commission, or SEC, to \u201cprovide a regulatory environment for blockchain\u201d and digital assets. The publication cites Ministry adviser Amstrong Takang speaking at an industry event in Lagos on Tuesday. <\/p>\n<p>Digital assets are recognized as commodities and governed by <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ropriate securities law in Nigeria following the SEC\u2019s stunning edict on the matter back in September. At the time, the SEC said its role was to regulate this new asset class, not hinder adoption or innovation.<\/p>\n<p><a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/sec.gov.ng\/statement-on-digital-assets-and-their-classification-and-treatment\/\">According<\/a> to SEC Nigeria:<\/p>\n<blockquote><p>\u201cThe <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">general<\/a> objective of regulation is not to hinder <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> or stifle innovation, but to create standards that encourage ethical practices that ultimately make for a fair and efficient market.\u201d<\/p><\/blockquote>\n<p>Bitcoin (BTC) and other cryptocurrencies are witnessing growing adoption in Nigeria as the country struggles with capital controls, devaluation and new protests targeting police corruption. <\/p>\n<p>Nigerian officials appear keen on adopting blockchain, with hopes of generating $10 billion in revenue from the new technology by 2030. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener noreferrer\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/nigeria-is-establishing-a-framework-for-widescale-crypto-adoption\" target=\"_blank\" rel=\"noopener noreferrer\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Nigeria is establishing a framework for widescale crypto adoption &#8221; Nigeria\u2019s Finance Ministry is reportedly in talks with the country\u2019s securities regulator to develop a new framework for blockchain and cryptocurrencies &#8212; a move that could accelerate adoption in Africa\u2019s largest economy.\u00a0 Business Day, a Nigerian market intelligence publication,\u00a0reported Tuesday that the Ministry of&#8230;<\/p>\n","protected":false},"author":1,"featured_media":119595,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2020-11\/f64a51dc-d5b8-4c53-a600-7d0ebe9edbcb.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74899,74858,76358,74355,25562,70934],"class_list":["post-119594","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin-adoption","tag-bitcoin-regulation","tag-nigeria","tag-adoption","tag-africa","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/119594","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=119594"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/119594\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/119595"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=119594"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=119594"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=119594"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}