If passed, the reported amendments would regulate bitcoin and cryptocurrency usage in the African nation. A local Nigerian newspaper has reported that Babangida Ibrahim, chairman of the House of Representatives Committee on Capital Market and Institutions of Nigeria, claimed the country will soon pass a law making the usage of bitcoin and cryptocurrencies legal. The bill would amend the 2007 Investments and Securities Act and would recognize bitcoin as legal capital for investment. Back in February of 2021, Nigeria effectively banned the usage of bitcoin with a letter prohibiting regulated financial businesses from “dealing” with cryptocurrencies. In the same year,
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Author: coinmaker