Banks and fintechs remain wary of Crypto despite new licences
- Nigeria's SEC has issued crypto licenses to Busha and Quidax.
- Banks and fintechs are still hesitant to engage in crypto-related activities.
- The CBN's stance on crypto remains unclear, leading to confusion and caution among financial institutions.
The regulatory environment surrounding cryptocurrencies in Nigeria remains uncertain and confusing. While the SEC has issued licenses to crypto exchanges, banks and fintechs are still wary due to the lack of clarity from the CBN. This cautious approach is understandable given the potential risks and legal implications. Further discussions and clear guidelines are needed to foster a more favorable environment for crypto-related activities.
