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The Federal Inland Revenue Service (FIRS), Nigeria's tax regulatory agency, plans to seek support from the National Assembly to develop a comprehensive new law to regulate the country's cryptocurrency. FIRS Executive Chairman Zacch Adedeji announced plans to introduce a proposed legislation in September during a recent stakeholder exchange meeting with the Finance Committee of the National Assembly, as part of a broader effort to reform Nigeria's tax system. Adedeji stated that the new bill will target the growing cryptocurrency industry, ensuring its advantages serve the Nigerian economy while reducing potential risks. This regulatory measure is a response to the rapidly developing digital economy and the need to update legal frameworks to keep up with technological advancements. @seth @alwi120205
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