Nigeria's tax regulator, the Federal Inland Revenue Service (FIRS), plans to seek the support of the National Assembly to develop a comprehensive new law to regulate cryptocurrencies in the country.
FIRS Executive Chairperson Zacch Adedeji announced plans to introduce a proposed legislation in September during a recent stakeholder exchange meeting with the Finance Committee of the National Assembly as part of a broader effort to reform Nigeria's tax system.
Adedeji said the new bill will target the growing cryptocurrency industry, ensuring its advantages serve the Nigerian economy while reducing latent risks. The regulatory move is a response to the rapidly evolving digital economy and the need to update the legal framework to keep pace with technological advancements.
The Nigerian tax regulator has proposed the full implementation of cryptocurrencies
2024-08-18 11:44:35
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