The largest coalition of crypto asset practitioners and founders in the African digital currency space, Digital Currency Coalition (DCC), is ready to collaborate with Nigerian government to establish a standardized industry to create employment opportunities for the youth.
The coalition said that accepting and hinging on chances created by digital currencies and blockchain can help in contributing massively to the nation’s economic advancement.
The coalition added, quoting, “While we acknowledge the potential risks and challenges associated with this emerging sector, we emphasize that with proper regulation and strategic implementation, digital currencies can serve as catalysts for job creation, innovation, and sustainable development.
“As the leading voice in the digital currency and blockchain space, DCC stands ready to collaborate with the government, leveraging our expertise to shape a robust and future-oriented digital currency ecosystem.
“We are committed to demonstrating to the nation’s leaders how embracing digital currencies can lead to sustainable job creation, especially for the young population, fostering independence and freeing up national resources for other social causes.”
The Digital Currency Coalition appreciates the positive efforts the Nigerian government is taking in creating a national blockchain Regulation. They praised the partnership between investors in the blockchain industry, which ensures the DCC establishes the regulations and frame work for crypto execution.
The coalition added that this inclusive method guarantees that the constitution and act become technical in nature. Although they expressed their uneasiness on the issue of adding services for the taxation of digital assets in the recently furnished legislation for the fintech industry. Their uneasiness is about the timing as the industry is still undergoing issues such as the country’s banking service ban on digital currency operators.
Other stakeholders that signed together with the DCC were Seun Dania, CEO of Tradefada; Buchi Okoro, CEO and Co-founder of Quidax; Yele Bademosi, CEO and Co-founder of Nestcoin; and Geoffrey Nwokolo, PMO Digital Currency Coalition on behalf of members of the coalition.
The coalition finally concluded by saying “We reiterate our commitment to working hand in hand with the government, regulators, and industry stakeholders to ensure the responsible growth of the digital currency industry in Nigeria. Our goal is to create an environment that fosters shared prosperity for all while not stifling innovation and growth in the sector. The DCC assures all stakeholders and citizens of Nigeria of its active participation and input in all efforts to make digital currencies mainstream in the country,”