Nigerian Blockchain Leader: Approval of 2 Crypto Exchanges Brings Much-Needed Regulatory Clarity

A Nigerian blockchain industry leader has described the recent approval of two crypto exchanges by the securities regulator as a positive step that improves the image of Nigeria’s crypto space. The leader believes clear regulations will attract foreign investors and benefit Nigerian entrepreneurs. He also urged Nigeria to follow the rule of law regarding the detained Binance employee.

SEC Move Brings Regulatory Clarity to the Nigerian Crypto Market

Nigeria’s recent approval of two digital asset exchanges is a welcome development for the industry, according to Obinna Iwuno, leader of the country’s blockchain advocacy group. Iwuno, president of the Stakeholders in Blockchain Technology Association of Nigeria (SIBAN), believes the move will help counter the negative perception surrounding the Nigerian crypto space, which intensified following the detention of Binance executives earlier this year.