Sat. Jun 22nd, 2024

Bitcoin Bills: FG Nigeria Considers Bills, Providing Legislative Framework for Digital Cash, Bitcoin and E-Currency

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FG (Federal Government) Nigeria on Tuesday commented on the available Bills, providing Legislative Framework for Digital Cash, Bitcoin and E-Currency

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At the recent opening ceremony of the capacity building workshop on Tuesday in Abuja. Abubakar Malami highlighted on the bitcoin and e-currency bills available at the National Assembly in an interactive session with Judiciary Correspondents. 

The Attorney General of the Federation, Abubakar Malami disclosed that its office still have bills at the National Assembly which contains details providing legislative framework for digital currency regulation.

Read Also: The Commission Will Issue Cryptocurrency Regulations to Make Sure that Cryptocurrency Operators are Taxed and Regulated Accordingly Says SEC Nigeria.

He stated that the bills include; electronic transaction, electronic evidence act, digital management act and electronic banking act.

These bills according to Malami will grow and strengthen the success of the stamp duty act which has increased stamp duty revenue from “mere total of N22 billion over the years to N66 billion within the last six months of the amendment of the act.”

Going further, he noted that “There are several other acts to regulate emerging digital financial sub sector of the economy.

“The expected bills will prepare Nigeria for emerging realities relating to digital cash, bitcoin and e-currency.”

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