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FG should set up presidential commission on cryptocurrency – ACCI

The Federal Government has been urged to set up a presidential task force on cryptocurrency adoption.

The Abuja Chamber of Commerce and Industry (ACCI) has urged the Federal Government to set up a presidential task force on cryptocurrency adoption, citing increased adoption of cryptos in the global markets.

This was disclosed by Dr Almujtaba Abubakar, ACCI President, in a statement on Friday in Abuja. He suggested that the FG should propose a plan which would enable cryptocurrency to be used in Nigeria’s financial markets.

“The commission should propose a plan of action for phased usage of the technological currency within the Nigerian financial system,” he said.

“We suggest that members of the commission should be drawn from the Central Bank of Nigeria (CBN), Nigerian Stock Exchange, banking /financial Institutions, bitcoin community, digital currency experts and relevant MDAs and organised private sector.

It is our considered view that such a commission will have all facts on the table and will be able to chart a sustainable path forward for Nigeria,” he added.

The ACCI cited Vice President, Osinbajo’s views on cryptocurrency being a global phenomenon that nations must address rather than run away from.

“The policy lacuna impresses on the administration to consider possible options to prepare the nation to cope with the positive and negative fallouts of this new financial technology,” the ACCI boss added.

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Crypto Stats


CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin55,649 1.93 % 0.84 % 12.47 %
Ethereum2,365.6 5.34 % 8.38 % 2.66 %
Binance Coin583.20 4.27 % 11.50 % 5.44 %
Tether1.000 0.07 % 0.01 % 0.07 %
Polkadot43.88 0.58 % 0.43 % 36.39 %
Cardano1.250 3.46 % 3.94 % 12.19 %
XRP1.360 4.53 % 4.97 % 24.12 %
Uniswap31.97 4.16 % 5.52 % 9.96 %
Litecoin263.31 4.38 % 3.08 % 1.11 %
Chainlink37.65 4.25 % 1.59 % 5.58 %