FIRS moves to regulate crypto industry with planned legislation
Post AMUGE
August 19, 2024
Business a.m. The Federal Inland Revenue Service (FIRS) plans to collaborate with the National Assembly in the enactment of a law to regulate the crypto industry. The FIRS, which is the government agency responsible for collecting taxes in Nigeria, indicated that this step will ensure the country’s crypto industry operates in accordance with established guidelines […]
OKX exchange cut ties with Nigeria as regulatory issues undermine prospects for crypto industry
Post AMUGEJuly 22, 2024
Joy Agwunobi Cryptocurrency exchange, OKX, has announced its decision to discontinue services in Nigeria due to recent changes in local laws and regulations. This decision mirrors similar exits by other crypto exchanges, including Binance, which is currently facing legal scrutiny in the country, while the Central Bank of Nigeria (CBN) tightens its grip on the […]
SEC upbeat over Nigeria’s growing cryptocurrency market now at $400m
Post AMUGEJuly 1, 2024
Joy Agwunobi The Nigerian cryptocurrency market has witnessed explosive growth, with a market value estimated to be in excess of $400 million, making it a subject of keen interest for domestic and international stakeholders. The substantial growth of the market has not gone unnoticed, prompting observers to closely monitor the sector’s development. Emomotimi Agama, the […]
IMF wants Nigeria to licence cryptocurrency trading platforms
Post AMUGEMay 14, 2024
Business a.m. The International Monetary Fund (IMF) has recommended that the Nigerian government establish a registration or licensing framework for crypto trading platforms, including Binance, in response to the ongoing dispute with the world’s largest cryptocurrency platform. This recommendation was part of the IMF’s latest staff report which followed the conclusion of its 2024 Article […]
Crypto experts in Thailand worry about new rules for opening accounts at crypto exchanges
Charles AbuedeMay 4, 2021
Country’s regulators gearing up to tighten new rules on account opening Charles Abuede Come July 2021, crypto exchanges in Thailand will be required to use a dip-chip machine for identity verification as the country’s financial watchdogs are warming up for the introduction of new policies which will see these exchanges very users’ identity in person. […]
CBN, SEC, working on regulatory guideline for cryptocurrency trading
Arakunle KayodeApril 16, 2021
Arakunle Kayode The Securities and Exchange Commission (SEC) has revealed that it is working to better understand and control the cryptocurrency market in Nigeria in partnership with the Central Bank of Nigeria (CBN). This comes after the CBN had banned all financial institutions and deposit money banks from permitting account holders to engage in any […]
Bitcoin reaches another high of $63,000 ahead of planned Coinbase IPO for Wednesday
Charles AbuedeApril 13, 2021
Crypto analysts project the currency to hit $80,000 by Q2 as Bloomberg says coin could reach $400,000 by 2022 Charles Abuede Ahead of the scheduled initial public offering of Coinbase, Bitcoin which is the most valued and traded cryptocurrency has recorded a new high of $63,158 per Bitcoin with the digital currency lurching […]
Is Zugacoin Nigeria’s chance to play big in the crypto world?
Wale AmeenMarch 22, 2021
Wale Ameen The emergency of cryptocurrency with the flagship coin, bitcoin has been nothing short of phenomenal since it was first announced in 2009. It has been embraced by the more daring and adventurous lot of people but viewed with suspicion by many others who either do not understand how it works or just simply […]
How I became a crypto millionaire!!!
Businessam StaffAugust 6, 2018
My name is Simon Watango and I am an African Prince and one of the lucky few that bought Bitcoin at $0.10 dollars in 2010, today that $100 investment its worth more than $5 million that’s over 1 billion Naira. For the price of $150 dollars a month I will show you how to buy […]
Cryptocurrencies to assume same status as foreign currencies in Russia
Adesola AfolabiJune 7, 2018
Alexei Moiseev, Russia’s deputy minister of finances (Minfin) has said the possibility of installing an exchange on the nation’s currency, ruble, against cryptocurrencies is not being ruled out. According to him, in such a case, cryptocurrencies will have the same status as foreign currencies and would be allowed to be changed to the ruble in […]