Related: Blockchain.com expands into Ghana after 700% trading surge in Nigeria “The policy challenge is to narrow the gap that made the workaround [in cross-border payments] attractive, while ensuring that new risks remain contained,” said the IMF on Nigeria’s stablecoin…
option. “That requires a clear strategy: open to innovation but anchored in sound macroeconomic policy and effective regulation.” While the executive order said that the country’s tax authority, the Nigerian Revenue Service, would provide additional details on the effects on taxpayers, the agency had already announced policy reforms. In January, authorities said that under the Nigeria Tax Administration Act, crypto service providers were required to link transactions to tax identification numbers and, in some cases, national identification numbers
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