The Central Bank of Nigeria ordered all credit institutions in the country last year to freeze customer accounts that are used to invest in digital currencies.
However, the authorities of the country also decided to change the policy and started to develop a regulatory framework to regulate the crypto industry.
Now, the central bank of the country has published a report on the modernization of Nigeria’s payment infrastructure.
According to it, it is necessary to introduce regulatory legislation for ICOs and stablecoins aimed at protecting investors who are involved in financing blockchain startups.
The central bank expects to legalize tokens within the next 3-5 years.
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