Nigeria Signs Presidential Order on Cryptocurrency Regulation, Establishes New Council

On the 17th, Nigerian President Bola Tinubu signed a presidential order to centrally regulate virtual assets (Virtual Assets). Based on Article 5 of the national constitution, the order took immediate effect. According to the Presidential Office, as virtual assets blur the lines between currencies, commodities, and securities, the gaps in regulation created by multiple agencies supervising separately have been exploited by unregistered fraudulent operators, leading to repeated instances of citizens' assets being compromised...