Nigeria Moves to Tame the Wild Crypto Market: What You Need to Know
In the rapidly evolving world of finance, the need for robust regulatory frameworks to manage emerging technologies like cryptocurrency has become increasingly crucial Nigeria, recognizing this need, is taking significant steps towards establishing a comprehensive legal structure around digital currencies A key milestone in this journey is the Nigerian Federal Inland Revenue Service's (FIRS) recent announcement to collaborate with the National Assembly for the formulation of a pioneering law aimed at regulating cryptocurrency in the nation Nigeria's Move Towards Cryptocurrency Regulation The call for legislative backing comes from the FIRS’s determination to align Nigeria’s tax system with the digital age, ensuring it encompasses the burgeoning sector of digital assets The FIRS Executive Chairman, Zacch Adedeji, during a stakeholder meeting with the Finance Committees of the National Assembly, revealed the organization's ambition to introduce a new bill...
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