Central Bank of Nigeria Plans Regulatory Framework For Cryptocurrencies 

The Central Bank of Nigeria says it will bring up a regulatory policy framework for the implementation of cryptocurrencies in the country. <br />The CBN would consider the development of a regulatory framework for the potential implementation of ‘Stablecoins,”. <br />The bank added that It would also continue its watching brief on Initial Coin Offerings as well as work with the Security Exchange Commission to jointly develop a regulatory framework in the event of the adoption of an ICO-based investment solution. <br />The Acting Director, of Corporate Communications, CBN, Osita Nwanisobi, says the ban on such transactions would not have any negative impact on fintech. <br />