President Buhari’s first-ever remark on cryptocurrencies and what this means for Nigeria’s crypto industry

"The absence of a swift and effective solution to these requirements, as well as fears that Central Banks’ actions sometimes lead to hyperinflation created the space for non-government entities to establish new forms of “private currencies” that seemed to have gained popularity and acceptance across the world, including here in Nigeria." - Muhammadu Buhari, President of the Federal Republic of Nigeria

After suspending its October 1 launch date for the eNaira, the Central Bank of Nigeria says the eNaira is “a work in process”; welcomes input from all Nigerians.

In the Design Paper for the eNaira released by the Central Bank of Nigeria (CBN) most recently, it states that “[l]ike the eNaira itself, the Design Document is also a work in process.” The CBN then “welcomes continued input on these design elements from all Nigerians” as the CBN “work[s] together to develop the eNaira so that it develops in a...

U.S. SEC Chairman Garry Gensler is a powerful but dangerous voice around blockchain use cases and regulation, warns Marc Powers

Marc Powers who teaches “Blockchain, Crypto and Regulatory Considerations” and “Fintech Law” as an adjunct professor at Florida International University College of Law, has described U.S. Securities and Exchange Chairman Garry Gensler as “not only a powerful voice in the debate around blockchain use cases and regulatory considerations but also a dangerous one.”

While U.S. Regulators have no plans to ban crypto, Congress wants regulators to take action on crypto regulation

The Chairman of the United States Securities and Exchange Commission (U.S. SEC), Gary Gensler has again reiterated that the financial regulator has no plan to ban crypto. This makes it the second time in one week he would say this. He however hinted that the Congress is likely to take harsher action in this regard.