Hello Friends,
This is the year of regulation for cryptocurrency in the world and this trend has been ongoing worldwide. While some of the countries are still going through the possibilities with crypto and some of the countries have gone ahead with the regulations. Nigeria has gone ahead and they have issued the first ever licence to local crypto exchange. This is a good move this time when the market is not doing great but it is preparing for the bull sentiments. With regulations it will be possible for the exchanges to provide better services to the users.
Now since the regulatory environment is evolving and it is good for the ecosystem so it is also anticipated that more countries will come forward with crypto regulations. SEC is Nigeria has issued the licence to Quidax and its a crypto exchange based out in Africa. Now this exchange will be able to operate in Nigeria as a registered entity and they will be complied with all rules and regulations as per the Nigerian government.
The Nigerian Securities and Exchange Commission has issued Quidax, an Africa-based crypto exchange, its first provisional operating license.
Many countries are working on the regulations and its great to see that Nigeria has taken lead. Even in India this is a topic for the discussion where the government is working behind the scene to draft the crypto framework. But it is also true that we cannot believe unless it is out and available in the public domain. If I talk about the Nigeria then the information is available in public domain and it is official so we know that the government has taken a lead and regulated the crypto exchange. This will also bring a more exchanges in the country to provide the crypto services which is good for the entire ecosystem.
It is also good for the Nigerian as now they can have more skin in crypto however even in the past they have a good exposure and now this they are going to get more opportunities from the crypto market. More clarity on the regulations makes things more legit and it allows people to be part of it because they believe that government is ready for this and they have given the go ahead in this industry which is fairly new but growing nicely.
Conclusion
I just hope that more countries follow the trend like this and they provide the required framework in terms of regulations to the crypto exchanges as well as they also bring more clarity for the people for Crypto. It is the need of time when more clarity is surely required so that more people can be onboarded in crypto market and that is going to bring more value in the Bitcoin and many other digital currencies. Lets hope to see more countries doing the similar practises and giving more power to the Crypto.
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