Prominent Nigerian Politician Calls for Crypto Regulation
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July 24, 2019

Femi Gbajabiamila, speaker of the Nigerian House of Representatives, wants the country to develop a legislative framework to regulate cryptocurrencies.

Local newspaper Daily Post reported yesterday that he has asked the authorities of the country to develop a legislative framework to regulate digital currencies in order to encourage their development, since, according to him, Nigeria should not be left behind as digital coins are massively adopted.

He said:

"On the issue of cryptocurrency, I think blockchain technology is novel and coming up strong. We don’t want to be left behind. [...] I think the world is taking the issue of cryptocurrency and block-chain technology seriously. We don’t want to be left behind, and we have to take it seriously."

In April of this year Ihodl Spain reported that a cryptocurrency exchange had been accused before the Nigerian financial regulator for closing the accounts of its users.

In the same month we reported that bitcoin's price increase had multiplied by 3 the searches of the term bitcoin in Google. Nigeria was one of the countries with a higher number of search requests for this word.

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