Nigeria central bank missed opportunity for blockchain regulation in 2021 — Convexity CEO

The panel conversation on the Future of Digital Assets at the SIBAN Digital Assets Summit. Source: SIBANAcknowledging NITDAs strides in crafting a blockchain policy, Preye Itonyo, the deputy director of the firms Digital Economy Development Department, highlighted the regulatory difficulty postured by the decentralized nature of blockchain, resulting in an absence of understanding of blockchain and cryptocurrency ideas in Nigeria. There is a need for regulation in the market to foster security while encouraging scalability.Related: 99% of Nigerians are crypto conscious– ConsenSys reportIn reaction, Itonyo mentioned that the currently established blockchain policy is Nigerias first step toward making sure the safety and protection of crypto financiers.

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