Nigerian activist battles for Bitcoin rights in major legal challenge
The outcome of the case could have significant implications for the future of cryptocurrency in Nigeria.
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The outcome of the case could have significant implications for the future of cryptocurrency in Nigeria.
As the regulatory environment continues to evolve, other local exchanges will likely follow Quidaxs lead and seek to meet the SECs requirements.
Tigran Gambaryans family raises alarms over his deteriorating health conditions, alleging medical negligence during his six-month detention in Nigeria.
In June, the SEC updated its regulations to better oversee cryptocurrency platforms and exchanges and improve monitoring of digital asset trading.
The discrepancies between the governments claims and the blockchain data highlight the tense dynamic between digital finance and state authorities.
This lawsuit comes amid the Nigerian governments increasingly hostile stance toward cryptocurrencies.
As the protest continues, whether crypto-specific demands will be integrated into the broader movements objectives remains to be seen.
As the trial of Binance executive Tigran Gambaryan restarts in Nigeria, Cointelegraph recaps the story so far.
The research centers are another step toward Nigeria taking a leadership position in artificial intelligence development in Africa.
The requirement also states that applicants must report customer complaints and emergent risks and be subject to SEC inspections, audits and monitoring.
The approving authority behind this taxation remains unclear, whether its the Nigerian government or an agency like the Federal Inland Revenue Service (FIRS).
The act of goodwill has gone viral on social media, restoring Nigerians trust in the crypto community.
Industry watchers are closely monitoring the case for signs of how Nigerian authorities will handle similar cases, which could impact the countrys growing cryptocurrency sector.
OKX stopped Naira withdrawals in May 2024 due to regulatory issues after Binance was accused of manipulating Nigerias currency and laundering money.
ICPs DecaHack event highlighted the transformative potential of blockchain and the importance of nurturing talent in the sector.
By treating Bitcoin and Ether as commodities, Nigerian regulators can establish a more tailored regulatory framework that reflects the unique characteristics of these digital assets.
By treating Bitcoin and Ether as commodities, Nigerian regulators can establish a more tailored regulatory framework that reflects the unique characteristics of the digital assets.
Due to the rapid decline of the naira and the resulting almost three-decade-high inflation rate of 29.9%, the Nigerian government has turned its focus to platforms providing cryptocurrency services.
Emomotimi Agama noted that cryptocurrencies like Bitcoin can considerably lower remittance costs, making it easier and cheaper for Nigerians abroad to send money home.
While this application process is intended to improve compliance, VASPs are directed to complete it no later than 30 days from the circular date.
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