The meeting is expected to ignite positive changes that benefit all crypto stakeholders in Nigeria and internationally.

The Blockchain Industry Coordinating Committee of Nigeria (BICCoN) is convening a roundtable on May 6 between the new director general of the Nigerian Securities and Exchange Commission (SEC) and local and international crypto exchanges to discuss and seek consensus on the status of crypto in the country.

The BICCoN chair, Lucky Uwakwe, explained on a call with Cointelegraph that the meeting is open to all digital assets exchange operators, wallet providers, other virtual asset service providers (VASPs), and relevant industry associations and bodies to address relevant issues and chart a progressive course for crypto regulations in Nigeria.

Uwakwe explained that the virtual meeting is being convened at the invitation of Emomotimi Agama, the new director general of the SEC.

Agama aims to engage with key stakeholders in the blockchain and cryptocurrency ecosystem to address regulatory challenges and opportunities through collaborative dialogue.

Agama, who was recently appointed to head the regulatory body, is known for his wealth of experience in blockchain and the capital market

According to Uwakwe, the meeting will allow different industry associations to present their perspectives on the current state of crypto in Nigeria.

Some of these associations include the Blockchain Nigeria User Group (BNUG), the Cryptographic Development Initiative in Nigeria (CDIN), the Digital Currency Consortium (DCC) and the Stakeholders in Blockchain Technology Association of Nigeria (SiBAN).

Uwakwe expressed hope that the meeting could spark the right kind of change that would favor all crypto stakeholders in Nigeria and internationally:

“Everyone’s presence and insights are invaluable as we collectively navigate the regulatory terrain and strive toward fostering an environment conducive to innovation and growth within the blockchain and cryptocurrency sector.”

Nigeria has taken steps contradicting its December 2023 decision to lift a crypto ban and has since launched probes into the use of cryptocurrency in the country

Positive developments that benefit all Nigerian and global cryptocurrency stakeholders are anticipated to arise from the meeting.

In order to discuss and reach an agreement on the state of cryptocurrency in Nigeria, the Blockchain Industry Coordinating Committee of Nigeria (BICCoN) is organising a roundtable on May 6th with the new director general of the country's Securities and Exchange Commission (SEC) and representatives from both domestic and foreign cryptocurrency exchanges.

The meeting is open to all digital asset exchange operators, wallet providers, other virtual asset service providers (VASPs), and pertinent industry associations and bodies to address pertinent issues and chart a progressive course for crypto regulations in Nigeria, according to BICCoN chair Lucky Uwakwe during a call with Cointelegraph.

Uwakwe clarified that the online gathering is being held at the invitation of Emomotimi Agama, the new director general of the SEC.

Agama aims to engage with key stakeholders in the blockchain and cryptocurrency ecosystem to address regulatory challenges and opportunities through collaborative dialogue.

Agama, who was recently appointed to head the regulatory body, is known for his wealth of experience in blockchain and the capital market

According to Uwakwe, the meeting will allow different industry associations to present their perspectives on the current state of crypto in Nigeria.

Some of these associations include the Blockchain Nigeria User Group (BNUG), the Cryptographic Development Initiative in Nigeria (CDIN), the Digital Currency Consortium (DCC) and the Stakeholders in Blockchain Technology Association of Nigeria (SiBAN).

Uwakwe hoped that the gathering will lead to the kind of reform that would benefit all parties involved in the cryptocurrency space in Nigeria and around the world:

"Everyone's presence and insights are invaluable as we work together to navigate the regulatory landscape and create an atmosphere that supports innovation and growth in the blockchain and cryptocurrency industry."

Following actions made in defiance of its December 2023 decision to lift the ban on cryptocurrencies, Nigeria has begun looking into the usage of cryptocurrencies there.