A functioning local stablecoin strengthens case for digital asset regulation, says Luno Nigeria CEO
Image Credit: techpointNigeria has officially classified cryptocurrencies as securities under the Investment and Securities Act (ISA) 2025, providing a clearer regulatory framework for digital assets, according to Ayotunde Alabi, CEO of Luno Nigeria.
The recently signed digital assets bill enhances regulatory clarity, fostering innovation and institutional confidence in Nigeria’s crypto industry while promoting collaboration between crypto platforms, regulators, and stakeholders.
The listing of cNGN, a local stablecoin, is seen as a pivotal step to bridge liquidity gaps and integrate digital assets with Nigeria’s traditional financial system.
Despite new compliance requirements, the move is viewed positively as it supports responsible innovation and strengthens consumer protection, positioning Nigeria as a competitive crypto market.
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