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What will be the market value of Nigeria's cryptocurrency industry after re-registration deadline?
5
Resolution / Starting Odds
Below $400 million • 33%
$400 million to $500 million • 33%
Above $500 million • 33%
Official reports by Nigeria SEC or other financial analysts
Story
Nigeria SEC Issues 30-Day Ultimatum for Crypto Firms to Re-Register, Valuing Industry at $400 Million
Jun 28, 2024, 01:09 PM
Nigeria's Securities and Exchange Commission (SEC) has issued a 30-day deadline for cryptocurrency companies operating in the country to re-register their businesses under a new regulatory regime. The SEC values the local cryptocurrency industry at $400 million. This move is seen as an effort to regulate the rapidly growing sector and extend financial services to the 38 million unbanked adults in Nigeria. Approximately 33.4% of Nigerians currently own or use cryptocurrencies, highlighting the significant penetration of digital assets in the country. The SEC boss emphasized the potential of crypto to aid the unbanked.
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Stricter regulations • 25%
Looser regulations • 25%
No change • 25%
Ban on cryptocurrency exchanges • 25%
New regulations introduced • 25%
Another major asset freeze • 25%
Court ruling in favor of crypto holders • 25%
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1 • 25%
2 • 25%
3 • 25%
4 or more • 25%
0 • 25%
1-2 • 25%
3-5 • 25%
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Yes • 50%
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