Goodnews: Nigeria is finally setting priorities when it comes to Crypto adoption

[Son Of Blockchain (SOB)]

 The recent news am about to share is the reason why we need more smart people with vision in strategic areas of the government cause it would enhance our nation building and improve development in all sectors, hopefully it would get better.
 Anyways the Nigerian SEC director now welcomes stablecoin firms under regulatory oversight, which means that Nigeria is now open to welcome stablecoin business, and several firms are already on-board through regulatory sandbox.
Source: CoinMarketCap

[Upgrade00]

Nigeria has a very big crypto market which is constantly growing, it's no surprise firms will be eager to get onboard, but there has to strict regulations to protect the potential investors in those currencies.

With the he low or absent taxes and other benefits the potential for profit is huge and there can be a good balance for investors and firms to benefit without anyone getting ripped off.

[Jegileman]

It is taking time for them to have allowed this all along since the country knows that its people are well grounded with crypto knowledge and have embraced it ever before even when there are strict regulations on its use that even led to its ban some years back. It could also be them setting up regulatory framework to make it a suitable investment plans for investors willing to venture and make use of those services.

I commend the bold move by the SEC Director, this shows they know what the people are yearning for and won’t allow Nigeria and Nigerians to be left behind in this new space of financial revolution taking its pace globally. Under a good regulatory framework, stable coin business will be well productive in Nigeria also.

[Odusko]

License cryptocurrency exchanges, centralized, license stable coin project, centralized, this shows that the government is beginning to put the best foot forward to grab their own share from the cryptocurrency market, as Big happens to be one of the most growing ground for cryptocurrency adoption a d transactions in in high volumes, this means more money for the government, now their are beginning to be smart not like the old corrupt CBN Chief that ban cryptocurrency outrightly because of his zero knowledge of the technicalities that surround the crypto market.

[Tonimez]

I will personally advise anybody to stick to the salient measures you've been using to go past the security agencies before now and don't allow thks news land you in possible police custody. Such proclamation by the second is still very delusional as it's still very ambiguous with many loopholes to still allow the exploitation of the security agencies on those into cryptocurrencies.

A stablecoin does not imply total cryptocurrency acceptance, infact stable coins comprise of Fiat currencies too, the dollars. Various definitions generalized it took to accomodate cryptocurrency; "A stablecoin is a type of cryptocurrency that aims to maintain a stable value relative to a specified asset, a pool or basket of assets. The specified asset might refer to fiat currency, commodity, or other cryptocurrencies."Source

This definition can be a ground to hold you responsible; the usual cryptocurrency we know are not considered stable due to high frequency of volatility which endangers the countries economy too. If cryptocurrencies become stable, then you can invest publicly and you will have the backing of the law.

Make all man dey on guard always as you dey run your cryptocurrency transactions. No let anyone tell you say SEC sign anything because when police go catch you, na there they go explain that law give you well. Naija no be where they dey trust this kind news. Infact anyday wey Nigeria go finally accept Cryptocurrency, every news go carry am because you know say Naija get population and majority of the youth now don join cryptocurrency trading. So anyday wey they go accept am for real, no be person sef go tell you say they don accept am. Dey on guard and no let coinMarketcap whine you.

[Smartvirus]

No be only Nigeria shah but, the path towards regulations na where many nations Dey look into as e carry concern Bitcoin and cryptocurrencies. In man at ways, FG never really Dey maximize their benefits as per revenue generation from the various institutions way exist on crypto matter for the nation and na why, when them wan clamp down on one of the project, them Dey wan go out of their way to do the most corrupt practices.

[Mekie21]

The government don see say majority of the transactions wey youth dey do dey based on cryptocurrencies, they also don recognize the fact say e dey more easier to send money in crypto to most of our relations wey dey abroad wey we go likely won do transaction to over there and majorly na against this naira instability. 

[casey15]

I saw this coming anyway ... When they lifted the ban off Nigerian account been able to make crypto transaction, and been able to make international payments with Naira cards, I knew that there will be an adoption news coming in... Well it's goodnews for us.. starting with stablecoins seems like the best option to help foster massive adoption as it has already being in use by most big private firms for tramsaction

[Son Of Blockchain (SOB)]

It is taking time for them to have allowed this all along since the country knows that its people are well grounded with crypto knowledge and have embraced it ever before even when there are strict regulations on its use that even led to its ban some years back. It could also be them setting up regulatory framework to make it a suitable investment plans for investors willing to venture and make use of those services.

I commend the bold move by the SEC Director, this shows they know what the people are yearning for and won’t allow Nigeria and Nigerians to be left behind in this new space of financial revolution taking its pace globally. Under a good regulatory framework, stable coin business will be well productive in Nigeria also.

I get your point but then they're not very late in allowing it, even if they're it's better late than never, atleast it's better than some government of top nations who still impose strict bans on cryptocurrency and deprive their citizens to enjoy the benefits that comes with it.
 The path of cryptocurrency is the path to the future and we can't go forward as a third world country if we don't embrace it fully, I've seen news in the past saying our country accepts cryptocurrency but the coinmarketcap acknowledging the bold step of the new SEC director is a good one even though it's starting with stablecoins, it's still categorised under cryptocurrency.
 Yes it will bro, very productive like you said, it's good we now have reasonable people in such offices that think towards that direction it show that there's hope, we'll take it a step at a time till cryptocurrency is fully embraced and securities stop harassing people who's embraced it.