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Stakeholders in Nigeria's cryptocurrency sector are advocating for the government to adopt regulations that prioritize compliance. Concerns have been raised regarding the current crackdown approach, which many believe is stifling innovation and hindering the growth of the industry. Prominent figures, including Obinna Iwuno, have called for a shift in strategy, suggesting that Nigeria should follow India's example of imposing fines on non-compliant entities while fostering a more supportive regulatory environment. The current punitive measures have led to increased uncertainty in the crypto space, with executives facing legal repercussions and projects experiencing significant delays.
🚀 Why India Needs to Convert SEZs into Crypto Native Zones NOW! 🚀 Imagine a world where innovation thrives, untethered by outdated regulations. That world could be right here in India—if we’re bold enough to convert our SEZs into Crypto Native Zones. 👇 1. Outdated SEZs, Meet…
Nigeria Needs to Get Smart About Crypto Regulation! The crackdown strategy isn’t helping Nigeria's crypto sector. We’ve seen this play out before: punitive measures just scare off innovation and capital. Instead, look at India. They fined Binance, made them comply, and got… https://t.co/FcY7XDuOGH
OGs Push for Nigeria to Stop FUD and Get Real with Crypto Regulation Nigeria’s crypto regs are bringing doubt to the space with execs getting jailed and projects grinding to a halt. Obinna Iwuno and other stakeholders say it’s time to follow India’s lead: slap fines, enforce… https://t.co/AE5KvkYXTD