The Central Bank of Nigeria says it will bring up a regulatory policy framework for the implementation of cryptocurrencies in the country.
The CBN would consider the development of a regulatory framework for the potential implementation of ‘Stablecoins,”.
The bank added that It would also continue its watching brief on Initial Coin Offerings as well as work with the Security Exchange Commission to jointly develop a regulatory framework in the event of the adoption of an ICO-based investment solution.
The Acting Director, of Corporate Communications, CBN, Osita Nwanisobi, says the ban on such transactions would not have any negative impact on fintech.