Nigeria has one of the highest rates of crypto adoption in the world, but the government has a complicated relationship with digital assets.
The government of Nigeria is still open to crypto businesses operating in the country despite the ongoing lawsuit against crypto exchange Binance and the high-profile detention of Binance executive Tigran Gambaryan.
Nigerian Information Minister Mohammed Idris told Semafor that many crypto businesses operate inside the country that are not facing litigation or criminal prosecution.
“This is part of the effort to strengthen our laws, not to cripple anybody. We are ensuring that no one comes and operates without regulation,” Idris told the outlet.
