Cryptocurrency

Under the old, fragmented regulatory landscape, tracking virtual asset transactions felt like an impossible task for the government. Cryptocurrencies operated in a grey market, allowing traders to buy, sell, stake, and yield-farm without clear rules about formal tax reporting.

February 08, (THEWILL) — A South Korean cryptocurrency exchange, Bithumb, has apologised after a technical glitch led to the accidental distribution of more than $40bn (£32bn) worth of bitcoin to customers, briefly turning hundreds of users into instant multi-millionaires. The...

January 12, (THEWILL) — The Federal Government has announced plans to make cryptocurrency transactions traceable under the Nigeria Tax Administration Act (NTAA) 2025. This move is aimed at curbing tax evasion, improving compliance, and strengthening oversight of Nigeria’s digital...

February 27, (THEWILL) – The Federal Bureau of Investigation (FBI), on Wednesday, said that North Korea was behind the theft of about 1.5 billion dollars in digital assets from Bybit, a Dubai-based crypto trading platform. Bybit reported that hackers on...

December 24, (THEWILL) - The Central Bank of Nigeria (CBN) has lifted ban on cryptocurrency transactions in the country, directing commercial banks and other financial institutions to jettison its previous instruction on crypto transactions. The guidelines are contained in a...

December 13, (THEWILL) - The naira closed at a record low of N1,009.05 per dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Friday, December 8, 2023. This marked the most disastrous week for the forex market as...

October 18, (THEWILL) - Nigeria’s naira closed trading at a record low of N1,100 per dollar on the parallel market on Wednesday according to data from Aboki.fx, an online forex tracking platform. Lagos street currency traders who spoke to THEWILL...

May 24, (THEWILL) - The price of Nairacoin-NRC, the latest Cryptocurrency developed by an Akwa Ibom-born mathematician, Michael John, may hit N375 ($0.5) in the next three months and N750 ($1), before the next six months, the developer has...

March 24, (THEWILL) – The Security and Exchange Commission has accused eight celebrities of illegal crypto promotion. The Commission, on Wednesday, charged Ne-Yo, Soulja Boy, Akon, Lindsay Lohan, Jake Paul, Lil Yachty, Austin Mahone and Kendra Lust for...

BEVERLY HILLS, March 09, (THEWILL) - The Federal High Court, sitting in Makurdi, Benue State, on Tuesday convicted one Victor Chinemerem Ogaraku, for cryptocurrency fraud. Ogaraku was arraigned by the State Zonal Office of the Economic and Financial Crimes Commission,...