The Digital Currency Coalition (DCC), representing crypto asset practitioners and blockchain innovators in Africa, has expressed its support for the Nigerian government’s active role in advocating for structured regulation of the digital currency ecosystem during the 18th G20 summit held in New Delhi, India.
President Bola Tinubu and Bosun Tijani, the Minister of Communications, Innovation, and Digital Economy, led discussions on cryptocurrency regulation that align with the DCC’s long-standing call for a well-structured digital currency environment.
These discussions were informed by a key document from the International Monetary Fund (IMF) and Financial Stability Board (FSB) titled ‘IMF-FSB Synthesis Paper: Policies for Crypto-Assets.’
The DCC has expressed its readiness to collaborate with the federal government in developing comprehensive policy and regulatory frameworks that address various concerns associated with crypto assets, including financial stability, market integrity, and investor protection.
The DCC has also been proactive in self-regulation and compliance with the Financial Action Task Force (FATF) standards for Anti-Money Laundering (AML), including enforcing the travel rule among its members.
The DCC believes that a well-regulated digital currency space is crucial for Nigeria’s economic future and is committed to supporting the government’s efforts under President Tinubu’s leadership.
The coalition also extended its best wishes to the Nigerian Government and delegates participating in the UN General Assembly in New York, hoping for fruitful deliberations that benefit both the nation and the digital currency ecosystem.
