New Nigerian law proposes legalizing cryptocurrency uses

According to Nigerian media Punchng, Babangida Ibrahim, Chair of the Institutions and Capital Markets Committee of the Nigerian House of Representatives, revealed that the House of Representatives will soon pass an amended version of the 2007 Investment and Investment Act.

If passed, the Securities Act would allow the use of digital currencies in Nigeria. The bill would require the country’s Securities and Exchange Commission to recognize cryptocurrencies and other digital funds as investment capital.