The Nigerian government will reportedly pass the Investments and Securities Act 2007 (Amendment) Bill to recognize cryptocurrency and other digital funds as capital for investment. The law has come 2 years after the prohibition of all crypto activity in the country. Nigerian House of Representatives Committee on Capital Markets Chairman Babangida Ibrahim said such amendment was to keep the country up to date with global practices. He further clarified that the law was not about lifting the ban but a secondary review of the scope of the country’s Central Bank’s power. The regulatory roles of the country’s Central Bank and Securities Exchange Commission on matters regarding digital currencies will also be set out in the Bill.
Source: https://cointelegraph.com
