Nigeria has its digital currency (CBDC), called eNaira. Now, the West African country is studying a bill through which cryptocurrencies could be declared as capital for investment.

The announcement was made this Sunday, by the local newspaper Punch, which reported: “The new project aims to raise the level of digital assets in the country until they are recognized as investment capital by the Securities and Exchange Commission.”

Nigeria has taken significant steps towards innovation in blockchain technology and Web3. This new bill, called the “Proposed Securities and Investment Bill, 2007”, could soon be passed by the lower house of Nigeria’s congress.

The press release indicates that the project will also have influence on “supervisory functions by the Central Bank of Nigeria and the Securities and Exchange Commission (SEC) with respect to cryptocurrencies.”

Undoubtedly, the objective is to establish clear rules for the regulation and supervision of the proper use of digital currencies as investment capital. Likewise, reduce the risks of crimes such as “money laundering or the financing of practices such as terrorism.”

M.Pino

Source: bitcoin.es

(Photo: iprofesional.com, via web)

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La entrada Nigeria studies recognizing cryptocurrencies as investment capital apareció primero en Bitfinance.

Nigerian President Muhammadu Buhari launched today the country’s new digital currency, eNaira, to improve the payments system in the West African nation, as announced by the country’s Central Bank.

The currency, which will take several years to reach its fullness, intends to “facilitate and accelerate financial transactions in the African country”, according to the institution, and will serve as a complement to the physical currency, collects the Lagos Post.

“The eNaira, therefore, marks a great step forward in the evolution of money, and the CBN is committed to ensuring that the eNaira, like the physical naira, is accessible to all,” added the central bank.

Olabisi Onabanjo University economics professor Sheriffdeen Tella has urged the Central Bank to sensitize Nigerians to the concept.

“People have yet to fully understand what eNaira is about. However, hopefully after the launch, they will be more aware of it,” said the entity.

Source: dpa

La entrada Nigeria launches its digital currency to improve the payment system apareció primero en Bitfinance.

El Salvador marked a historical process with its Bitcoin Law, a phenomenon that is driving progress towards the digitization of the economies of other Central American countries. Honduras is in the research for feasibility, and risk-benefit analysis phase of a digital currency project. While Guatemala has already decided on the name of its future CBDC.

The president of the Central Bank of Honduras, Wilfredo Cerrato, expressed his commitment to “determine the viability of conducting a pilot test issuing its own digital money or a digital currency of the central bank” and urged the highest monetary authority in the region, the Council Central American Monetary, to participate in the initiative.

Meanwhile, the vice president of the bank of Guatemala, José Alfredo Blanco, said that his country plans to name its “future CBDC: iQuetzal, the same as its fiat currency.” Although he stressed that there is a group of people working on the project since the beginning of the year, “they will not rush in its development.”

For its part, the Bahamas plans to approve its Sand Dollar in a few months, while Jamaica is already experimenting “with its own digital currency.”

At the global level, the latest development of a digital currency is being carried out by Nigeria, which plans to launch its eNaira on October 1st. This African country has experienced an acute crisis that forced the inhabitants to take refuge in “decentralized cryptocurrencies” to protect their resources. With the launch of this currency, the authorities are trying to incorporate citizens “into the national system with a digital alternative.”

M. Rodríguez

Source: cripto247.com

La entrada Honduras and Guatemala seek digital options for their financial system apareció primero en Bitfinance.