Nigeria Adopting Europe’s MiCA Standards

Nigerian data analyst Obinna Uzoije calls for ECOWAS to adopt Europe’s MiCA crypto regulations.

A unified crypto framework could offer clarity and attract investors across ECOWAS member states.

Some ECOWAS countries have stringent crypto bans, complicating investments.

MiCA’s rules on stablecoins are crucial, as stablecoins are the top use case in Africa.

Effective June 30, MiCA requires licenses for trading stablecoins in the EU, setting a regulatory standard.

With President Bola Tinubu’s leadership, ECOWAS can develop a similar framework, enhancing investment.

Unified regulations could help fight money laundering and terrorism financing in the region.

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