Tinubu Signs Executive Order to Regulate Cryptocurrencies in Nigeria

Nigeria's President Bola Tinubu has signed an executive order on virtual assets, aiming to regulate and harmonize the use of cryptocurrencies in the country.

The order establishes a Virtual Asset Council, chaired by the Central Bank of Nigeria (CBN), to develop a framework that aligns with national security, economic, and social objectives.

The CBN will also create a 'sandbox' for virtual assets, allowing operators to test products and services under regulatory oversight.

Experts say this move could bring stablecoin activity into regulated channels, providing clearer protection for customers.