Nigeria to create legal framework for stablecoins and ICOs

Nigeria to create legal framework for stablecoins and ICOs

Source: Cointelegraph As one of the world’s pioneers in adopting its own central bank digital currency (CBDC), Nigeria also declares its readiness to accept the existence of private stablecoins. The necessity to create a legal framework for stablecoins is noted in the latest central bank strategy paper.  Published under the headline “Nigeria Payments System Vision […]

The Geopolitics of CBDCs

The Geopolitics of CBDCs

Written by Jannah Patchay, Policy Lead for the Digital Pound Foundation Central bank digital currencies (CBDCs) – a digital form of central bank-issued fiat currency – have seen explosive growth in interest over the past four years. At the start of 2023, 114 countries, representing 95% of global GDP, are currently exploring CBDC, of which 60 […]

A Lot More Required for CBDC Adoption to Take Off In Emerging Markets

Original Source: PYMNTS.com It’s been over a year since the Central Bank of Nigeria (CBN) issued a circular prohibiting banks and other financial institutions from facilitating cryptocurrency transactions and processing payments for crypto exchanges, lest they risk “severe regulatory sanctions.” In a statement, the bank said the directive, which saw Binance and other exchanges halt deposits […]

Nigeria’s CBDC eNaira Used for Nearly $10M Worth of Transactions Since October

Original Source: Coindesk Nigeria’s central bank digital currency (CBDC), the eNaira, has been used to carry out transactions worth 4 billion naira ($9.3 million) since it was introduced last October, according to country’s central bank governor. In a speech on Thursday, Central Bank of Nigeria (CBN) Governor Godwin Emefiele described the volume and value of […]