Nigerian digital asset professionals discuss the importance of regulation at SIBAN's 2023 summit. Challenges and progress in blockchain policy are outlined, emphasizing the need for a secure and scalable crypto industry.
The panel on the Future of Digital Assets at the SIBAN Digital Assets Summit
Acknowledging NITDA's strides in crafting a blockchain policy, Preye Itonyo, Deputy Director of the Digital Economy Development Department, highlighted the regulatory hurdle posed by the decentralized nature of blockchain, resulting in a lack of understanding of blockchain and cryptocurrency concepts in Nigeria. He pointed out that this lack of understanding fueled the 2021 crypto-traditional finance ban.
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