Nigeria has approved a national blockchain policy in its bid to shift towards a digital economy.
The policy was developed by the Federal Ministry of Communications and Digital Economy, with the aim to create a blockchain-based economy that facilitates secure transactions, data sharing, and value exchange among individuals, businesses, and the government.
The policy document has not been made public yet, but the government has directed regulators like the Central Bank of Nigeria and the Securities and Exchange Commission (SEC) to develop regulatory frameworks for the deployment of blockchain technology across various sectors of the economy.
The government did not mention cryptocurrencies, which were banned earlier this year after Nigeria emerged as one of the fastest digital asset adopters in the world. A multi-sectoral Steering Committee will oversee the implementation of the policy.
Judith Faith has been writing about cryptocurrencies and blockchain technology for over five years. She is well versed in the industry and has an extensive network of industry contacts. She is also a frequent contributor to various cryptocurrency publications. With her vast knowledge and experience, she is able to provide insightful and valuable content to her readers. Judith is also an active investor in the cryptocurrency space and has a vested interest in the success of the industry.
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