In a surprising turn of events that went under the radar, the Nigerian Securities Commission finally accepted cryptocurrencies as an alternative investment opportunity, as they call it.
Thanks to this new bit of information, crypto companies can now establish a base of operations within the company and are encouraged to register under the commission.
I'm pretty certain this dramatic change in opinion is based on the fact that a lot of people are interested in cryptocurrency in the country. Other than the fact that Google Trend pointed out that we rank first in the number of searches for Bitcoin, I personally have to answer a lot of questions about cryptocurrency as a whole.
This recent move is a dramatic reversal from their previous hands-off policy to cryptocurrency. With this move towards adoption, I reckon people will see the light and start buying up more digital assets. Getting cryptocurrency is easier than ever, with companies like Binance, Quiddax, Luno and a couple of others working largely under the radar for a couple of years.
In the face of the recession we're facing, the worst recession we've faced in 40 years, a falling currency and a government that leads with draconian policies, this development is a breath of fresh air.
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Also shared on Leofinance
