Nigeria witnessed cryptocurrency transactions exceeding $50 billion between July 2023 and June 2024, according to the Director-General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama. With an exchange rate of N1,500 to the Dollar, the amount translates into N75 trillion, about two-thirds of the capitalization of the Nigerian equities market capitalization currently at…
President Donald Trump signs the “Genius Act”, which will develop regulatory framework for stablecoin cryptocurrencies and expand oversight of the industry, at the White House in Washington, D.C., July 18, 2025. Over the last few years, Trump, once a crypto skeptic, has begun to tout himself as the most crypto-friendly commander in chief in U.S….
The $TRUMP meme coin, launched by US President-elect Donald Trump on Friday with an initial price of $1.5, has seen a remarkable surge in value. The coin launched three days to his inauguration as the 47th President of the United States of America, boomed to as high as $70 on Sunday within two days. Trump…
The Nigerian Securities and Exchange Commission (SEC) under Emomotimi Agama has proposed a new law aimed at combating the issue of crypto influencers using their influence to promote dubious crypto projects. The new law requires every crypto platform or Virtual Assets Service Provider (VASP) to be registered with a license from the Nigerian SEC before…
The Federal High Court in Abuja has convicted a Nigerian crypto dealing company, Official Gredo Limited, for illegally conducting USDT to Naira transactions without a banking license. Justice Inyang Ekwo convicted Official Gredo on Wednesday in accordance with the company’s plea bargain arrangement with the Economic and Financial Crimes Commission (EFCC), while ordering the forfeiture…
GISTSMATE MEDIA reports that the Federal Teaching Hospital, Gombe, Gombe State, has prohibited its staff members from trading cryptocurrency during work hours. This was contained in a viral circular dated September 18, 2024 signed by the Deputy Director of Administration, Adamu Tela. A copy of the circular was obtained by PUNCH correspondent on Friday. Our…
The cryptocurrency trading platform Binance has outlined two conditions that must be met before it can consider registering under Nigeria’s Securities and Exchange Commission’s (SEC) special framework program for onboarding Virtual Assets Service Providers (VASPs), including crypto platforms. Binance’s position is in response to the regulatory frameworks set out for cryptocurrency platforms by Nigeria’s regulatory…
The Executive Chairman of the Federal Inland Revenue Service (FIRS), Dr. Zacch Adedeji, announced that the Federal Government is set to introduce new tax laws by September, which will include regulations for the cryptocurrency industry. Speaking over the weekend at the FIRS 2024 Stakeholders Engagement with the Senate and House of Representatives Committees on Finance…
The Nigerian government has frozen more than $37 million worth of cryptocurrency held in wallets believed to be owned by some organisers of #EndBadGovernance protesters. The freezing followed an order by the Federal High Court in Abuja. The judge, Emeka Nwite, gave the order in a ruling delivered on 9 July, a copy of the…