EDUSELL
Financial Market Examiner
Midas Crypto Vault
  • Home
  • Education
  • Forex News
  • Crypto News
  • Stocks
  • Reviews
No Result
View All Result
  • Home
  • Education
  • Forex News
  • Crypto News
  • Stocks
  • Reviews
No Result
View All Result
Financial Market Examiner
No Result
View All Result
Home Crypto News

Central Bank of Nigeria (CBN) Moves to Regulate Stablecoins and ICOs

Admin by Admin
January 10, 2023
in Crypto News
0
CBN to regulate stablecoins and ICO
0
SHARES
9
VIEWS
Share on FacebookShare on Twitter
Webinar Webinar

The Central Bank of Nigeria (CBN) said it would develop a regulatory framework to recognize stablecoins and initial coin offerings as an investment class.

The central bank said in its “Payment System Vision 2025” report that private stablecoins have evolved to become a successful payment mechanism in the country, hence the need to regulate their operations.

The regulator added that it would work with relevant authorities to develop a regulatory framework for a possible implementation of stablecoin offerings.

Furthermore, the central bank said it will work jointly with the Nigeria Securities and Exchange Commission (SEC) to regulate initial coin offering (ICO)-based investment solutions.

According to the apex bank, ICOs if properly regulated could serve as a new approach for startups to crowdfund and raise funds for their projects. Additionally, ICOs would be recognized as an investment instrument, which can boast the country’s foreign direct investment.

The CBN said it will continue to support innovations built on distributed ledger technology (DLT), as it considers it a potential enabler for transformation in the Nigerian economy.

This latest development is seen as a step in the right direction for crypto adoption in Nigeria after the apex bank had earlier made a big move against crypto in 2021. CBN at that time banned crypto and activities in financial institutions. This however didn’t stop Nigerians from holding crypto assets and the nation has since been recognized as the number one country in Africa spearheading Bitcoin adoption.

Share on TwitterTweet
Share on Pinterest Share
Share on LinkedIn Share
Share on Digg Share
Source: Cryptoslate
Tags: cbnICOStablecoins
Institutional Trading Concept Institutional Trading Concept Institutional Trading Concept
ADVERTISEMENT
Previous Post

Why Virtual Stadium Can Be the Next Big Thing in the Metaverse

Next Post

Crypto.com to delist USDT for Canadians

Admin

Admin

Next Post
Crypto.com to delist USDT for Canadians

Crypto.com to delist USDT for Canadians

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

  • 99 Subscribers
  • Trending
  • Comments
  • Latest
yen and dollar

FOREX-Yen Flirts With Intervention Level As Dollar See Gains

October 11, 2022
AUD USD pair

Forex: AUD/USD Point To More Downside For The Aussie

October 20, 2022
Mayowa Owolabi on battles traders need to fight

Battle Every Trader Must Fight (Part 1)- Mayowa Owolabi

August 31, 2022
Meta (Ex-Facebook) Fined €1.2 Billion In Landmark EU Ruling

Meta Verified Shows A Company Running Out of Ideas

February 22, 2023
XAGUSD pair

XAG/USD Climbs to Mid-$19.00s

4
Premier League Considering Partnership With NFT Crypto Platform

Premier League considering partnership with NFT crypto platform

2
EUR/USD pair

EUR/USD Recovers from 20-year Lows

2
Binance CEO Supports Terra Classic Raising LUNC Burn Tax To 0.5%

Binance Proof-Of-Reserve Pledge Earns Support Following FTX Crisis

2
SEC And CFTC Find clarity In New Legislation To Regulate Crypto

SEC And CFTC Find clarity In New Legislation To Regulate Crypto

June 7, 2023
SEC Aiming To Freeze BinanceUS Assets   

SEC Sues Coinbase Just Hours After Binance

June 7, 2023

With Binance Lawsuit SEC Extends Its Regulatory Oversight Over $115 Billion Assets

June 7, 2023
BTC Price Drops Another 3% In Major Decoupling From AI Tech Stocks

Cboe Gets Approval For Margin Trades Of Bitcoin Futures, Opens Gates For Spot Trading

June 7, 2023

Recent News

SEC And CFTC Find clarity In New Legislation To Regulate Crypto

SEC And CFTC Find clarity In New Legislation To Regulate Crypto

June 7, 2023
SEC Aiming To Freeze BinanceUS Assets   

SEC Sues Coinbase Just Hours After Binance

June 7, 2023

With Binance Lawsuit SEC Extends Its Regulatory Oversight Over $115 Billion Assets

BTC Price Drops Another 3% In Major Decoupling From AI Tech Stocks

Cboe Gets Approval For Margin Trades Of Bitcoin Futures, Opens Gates For Spot Trading

June 7, 2023
Financial Market Examiner

Get all the latest Financial Market (Crypto & Forex) news, updates and other relevant resources here.

Follow Us

Browse by Category

  • Crypto News
  • Education
  • Entertainment
  • Forex News
  • Gaming
  • Review
  • Reviews
  • Stocks
  • Uncategorized

Recent News

SEC And CFTC Find clarity In New Legislation To Regulate Crypto

SEC And CFTC Find clarity In New Legislation To Regulate Crypto

June 7, 2023
SEC Aiming To Freeze BinanceUS Assets   

SEC Sues Coinbase Just Hours After Binance

June 7, 2023

© 2022 Financial Market Examiner. - Designed by Mayconcept Solutions.

No Result
View All Result
  • Home
  • Education
  • Forex News
  • Crypto News
  • Stocks
  • Reviews

© 2022 Financial Market Examiner. - Designed by Mayconcept Solutions.

?>