Nigerian House of Reps to Regulate Cryptocurrency and PoS Operations

The House of Representatives formed a committee to regulate cryptocurrency and PoS operations in Nigeria due to increasing fraud and cybercrime reports. The Speaker highlighted the need for oversight in the digital finance sector to prevent consumer exploitation.

The proposed framework aims to enhance regulation and protect citizens from fraudulent practices. The committee will conduct public hearings and engage key stakeholders, including the Central Bank of Nigeria and cybersecurity experts.

This move signifies the government's commitment to safeguarding the digital financial space and combating financial crimes in Nigeria.