Sunday, October 17, 2021

Crypto Industry Remains Uncertain, Says Chuta | The Guardian Nigeria News

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He noted that the activities of blockchain have enhanced the growth and development of the ecosystem in the last four years in Nigeria and across Africa. He stated that Nigeria’s premium hybrid blockchain and crypto assets conference was birthed to explore the technology, value and innovation trends to shape the future of money across the world.

Chuta pointed out that one of Africa’s largest and most untapped markets is the creator economy. Using NFTs and crypto arts, creators across art, film, gaming, and sports, among others, can monetise followers and intellectual property, which can actually bring about royalties and revenue streams across multiple assets.”

“Now Security and Exchange Commission (SEC) has rolled out a notification that it will resume its intension to regulate. As soon as it is done, crypto assets companies will be permitted to run bank accounts.”

On the regulation holding down Nigerians’ ability to tap benefits of crypto and Bitcoin opportunities, he said BNUG is a strong advocate for blockchain technology and works with all levels of government policymakers and regulators like SEC Nigeria, National Information Technology Development Agency (NITDA), Nigeria Deposit Insurance Corporation (NDIC), the Central Bank of Nigeria (CBN) and other stakeholders to support businesses.

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