Nigeria to allow asset-backed token offerings, crypto excluded Nigeria eNaira centralbankdigitalcurrency
- The African nation of Nigeria continues to be a testing ground for integrating blockchain technology as the country’s Securities and Exchange Commission is now considering permitting initial coin offerings for tokens backed by equity, debt, or property.
Nigeria is Africa’s most populous country with more than 200 million citizens, and 43% of that population is under the age of 14 and more open to the digital world. Last November, the government of Nigeria announced a plan to redesign and replace all banknotes in the country in an effort to combat counterfeiting and the hoarding of physical cash. This currency redesign also came amid the rollout of the Nigerian central bank digital currency – the eNaira – which received a lackluster reception from the public.
Nigeria accounts for the largest volume of cryptocurrency transactions done on peer-to-peer trading platforms outside the US. At the height of the cash shortage, as the value of the Naira plunged, the premium for Bitcoin on some P2P exchanges hit highs in excess of 160% as Nigerians dumbed their dollars as quickly as possible.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Nigeria’s SEC doesn’t want digital tokens backed by cryptoNigeria's SEC will allow digital exchanges to list tokenized coin offerings backed by equity, debt, and property. Crypto-backed tokens will reportedly stay off-limits.
Read more »
U.S. Treasury to allow auction of shares in Citgo Petroleum’s parentDepartment’s change of heart will allow claims to be settled by negotiation or through an auction of shares in Citgo parent PDV Holding
Read more »
Federal government touts “final” offer to striking public service union as fair | National NewswatchNational Newswatch: Canada's most comprehensive site for political news and views. Make it a daily habit.
Read more »
Treasury Board urges PSAC to let members decide on government's 'final offer'The federal government is urging leaders with the Public Service Alliance of Canada to let its members review the government’s latest offer, one it calls…
Read more »