Dec 23.2023.Thank you for reading this post, don't forget to subscribe!
The Central Bank of Nigeria has changed its stance on crypto assets in the country and asked banks to disregard its earlier ban on crypto transactions.
This is according to a circular dated December 22, 2023, with reference number FPR/DIR/PUB/CIR/002/003, and signed by the apex bank’s Director, Financial Policy and Regulation Department, Haruna Mustafa.
The apex bank said it is now providing guidelines and regulations for banks with regard to managing cryptocurrency in line with global trends to avoid its misuse, while urging banks to comply with the guidelines and regulations.
The circular is titled ‘Circular to all Banks and other Financial Institutions Guidelines on Operations of Bank Accounts for Virtual Assets Service Providers (VASPS).’
The apex bank stated that current trends globally have shown the need for crypto regulation.(www.naija247news.com)