Connect with us

News

Nigeria Establishes Blockchain Policy Committee for Comprehensive Reform

Nigeria has taken a significant step towards comprehensive blockchain reform by establishing a dedicated Blockchain Policy Implementation Committee. This initiative, announced by the Ministry of Communications and Digital Economy, aims to harness blockchain technology’s potential to drive economic growth and enhance governance.

Published

on

Nigeria has taken a significant step towards comprehensive blockchain reform by establishing a dedicated Blockchain Policy Implementation Committee. This initiative, announced by the Ministry of Communications and Digital Economy, aims to harness blockchain technology’s potential to drive economic growth and enhance governance.

The committee’s formation is part of Nigeria’s broader strategy to integrate blockchain technology into various sectors, including finance, education, and healthcare. This aligns with the government’s ambition to create a digital economy and position Nigeria as a leader in blockchain adoption across Africa.

Professor Isa Ali Pantami, Nigeria’s Minister of Communications and Digital Economy, emphasized the transformative potential of blockchain technology. “Blockchain offers unprecedented opportunities for innovation, transparency, and efficiency. This committee will ensure that Nigeria leverages these benefits to foster economic development and improve public services,” he said.

The committee comprises experts from the public and private sectors, academia, and civil society. Its mandate includes developing a regulatory framework, promoting blockchain education and awareness, and identifying pilot projects that can demonstrate blockchain’s practical benefits.

One of the committee’s primary tasks is to address the regulatory uncertainties that have hindered blockchain and cryptocurrency adoption in Nigeria. By creating a clear and supportive regulatory environment, the government hopes to attract investments and stimulate innovation in the blockchain space.

The move has been welcomed by industry stakeholders, who see it as a positive step towards mainstream acceptance of blockchain technology. “The establishment of this committee is a significant milestone. It shows the government’s commitment to embracing blockchain and signals to the world that Nigeria is open for blockchain business,” said a representative from the Blockchain Nigeria User Group.

The committee’s work will also focus on ensuring that blockchain applications align with Nigeria’s national priorities, such as financial inclusion and anti-corruption. Blockchain’s potential to provide secure and transparent records could play a crucial role in these areas, enhancing trust and accountability in government processes.

Business

Bitcoin price risks drop to $71K as Trump tariffs hurt US business outlook

Published

on

Bitcoin is setting its sights on the $71,000 mark as market conditions shift in response to geopolitical and economic developments, including a new tariff agreement and weakening U.S. business sentiment.

Recent market activity suggests that Bitcoin is benefiting from concerns over traditional economic indicators, with investors turning to digital assets as a hedge against economic uncertainty. A rare slump in U.S. business outlook has fueled speculation that risk assets, including Bitcoin, could see increased inflows.

Additionally, ongoing global trade negotiations and tariff adjustments have contributed to market volatility, prompting investors to seek alternative stores of value. Analysts suggest that if macroeconomic pressures persist, Bitcoin could continue its upward trajectory, potentially testing the $71,000 resistance level.

Despite short-term fluctuations, Bitcoin remains a focal point for investors navigating inflation concerns, regulatory shifts, and global economic trends. The coming weeks will be critical in determining whether Bitcoin can sustain its momentum and break through key price barriers.

Continue Reading

Business

Crypto donations top $1B in 2024, gain traction after Myanmar, Thailand quake

Published

on

Changpeng “CZ” Zhao, the former CEO of Binance, has donated 1,000 BNB to aid relief efforts following a powerful earthquake that struck the Thailand-Myanmar border region. The donation, valued at approximately $600,000, aims to support those affected by the disaster and assist in recovery operations.

The earthquake caused significant damage in several areas, displacing residents and impacting local infrastructure. CZ’s contribution highlights the growing role of cryptocurrency in humanitarian aid, providing fast and transparent relief funding.

The donation will be distributed to organizations working on the ground to deliver emergency assistance, including shelter, food, and medical supplies. Crypto-based aid is increasingly being utilized in disaster response efforts due to its efficiency in reaching affected communities without the delays of traditional banking systems.

As the affected regions begin the recovery process, the crypto community continues to demonstrate how blockchain technology can play a meaningful role in global humanitarian initiatives.

Continue Reading

Business

Hackers are selling counterfeit phones with crypto-stealing malware

Published

on

Security researchers have uncovered a wave of counterfeit Android devices preloaded with malware designed to steal cryptocurrency, posing a significant threat to users worldwide. The infected devices, which mimic popular smartphone brands, contain malicious software capable of hijacking digital wallets and siphoning funds.

The malware, embedded at the firmware level, allows attackers to gain remote access, intercept sensitive data, and execute unauthorized transactions. Because the malicious code is deeply integrated into the device’s operating system, it is difficult to detect and remove, making it a persistent threat.

Cybersecurity experts warn that unsuspecting buyers may unknowingly expose their crypto holdings to risk by purchasing these compromised devices from unverified sellers. Users are urged to exercise caution by only purchasing smartphones from trusted retailers and manufacturers.

The discovery highlights the growing sophistication of cybercriminals targeting the cryptocurrency sector. As mobile-based crypto transactions become more common, security measures such as hardware wallet usage and multi-factor authentication are increasingly essential to safeguard digital assets from emerging threats.

Continue Reading

Trending

Copyright © 2025 cryptonews.lk