Crypto Currencies’ Volatility Poses Financial Stability Risks For Nigeria – IMF   The International Monetary Fund says crypto currencies’ high volatility and valuation, as well as their increasing co-movement with equity markets will soon pose risks to financial stability in countries with widespread crypto adoption. The IMF...

India Announces Bill To Ban Cryptocurrencies   India’s government will introduce a bill to ban private cryptocurrencies and create a framework for a central bank-backed digital money, parliament said in a shock announcement late Tuesday. The proposed bill “seeks to prohibit all private cryptocurrencies in India”, the...

Diaspora Remittances: ABCON Advocates Measures To Counter Cryptocurrencies       Association of Bureaux De Change Operators of Nigeria (ABCON) has called on the Central Bank of Nigeria (CBN) to introduce measures that will counter the advantages of cryptocurrencies exchanges as a channel for diaspora remittances. Making this call...

CBN, SEC In Talks On Crypto Market Regulation       The Securities and Exchange Commission has said it is in discussion with the Central Bank of Nigeria on how to better understand and regulate the cryptocurrency market in the country. SEC said on Thursday that it would continue...

Cryptocurrencies Promote Illegal Activities, Raise Risks – CBN         The Central Bank of Nigeria has said cryptocurrencies promote illegal activities and raise risks, among other reasons. It said this on Sunday in a statement regarding various comments and reactions following its recent reminder to Deposit Money Banks...

NDIC Cautions Against Adoption Of Cryptocurrencies   The Managing Director, Nigeria Deposit Insurance Corporation, Umaru Ibrahim, on Thursday called on Nigerians to exercise caution in the adoption of cryptocurrencies as their preferred mode of financial transactions. He warned that while various forms of digital currencies currently in...