Nigeria’s Authorities Seek Cryptocurrency Regulatory Frameworks Against Criminal Activit…

The anonymous digital cash is widely used for criminal activities – for instance, Coingape reported, ISIS ruins war due to the huge investment in crashing crypto marke. A conference conducted by the Presidential Advisory Committee against Corruption (PACAC) in Nigeria calls for regulatory frameworks on the usage of cryptocurrency for criminal activities.

It was discussed during the conference in Abuja, named “understanding the interface between cryptocurrency and money laundering”. The panel was occupied by Central Bank of Nigeria (CBN) Governor Godwin Emefiele, Senate Committee on Anti-Corruption Chairman Senator Chukwuka Utazi and Prof Itse Sagay Presidential Advisory Committee against Corruption (PACAC).

Prof. Itse Sagay – PACAC

Prof. Itse Sagay who is a chairman of the community took stage stating the cryptocurrencies have often used for criminal activities and hence regulation must be adopted to tackle the challenge. Amidst the benefits one can leverage from…