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VisitWill cryptocurrency ownership/usage in Nigeria exceed 40% by December 31, 2024?
Yes • 50%
No • 50%
Official reports or surveys by Nigeria SEC or other credible financial institutions
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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