The Digital Currency Coalition (DCC), the largest coalition of crypto asset practitioners and founders in the African digital currency space, has expressed its readiness to collaborate with the government to establish a regulatory environment that will generate employment opportunities for the country’s young population.
In a statement issued by the coalition, they emphasized that embracing digital currencies and leveraging the opportunities presented by blockchain technology can significantly contribute to the nation’s economic advancement.
While acknowledging the potential risks associated with the emerging sector, the DCC highlighted 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, the DCC is committed to partnering with the government and leveraging its expertise to shape a robust and future-oriented digital currency ecosystem.
The coalition aims to demonstrate to the nation’s leaders how embracing digital currencies can lead to sustainable job creation, especially among the youth, thereby fostering independence and freeing up national resources for other social causes.
The DCC commended the government’s positive steps in formulating a national blockchain policy and praised the collaborative approach that involved stakeholders within the blockchain space, including the Digital Currency Coalition, in creating and implementing the policy.
However, the coalition expressed moderate concerns regarding the inclusion of provisions for the taxation of digital assets in newly enacted fintech-focused legislation. They highlighted that these provisions come at a time when the sector’s potential is still hindered by challenges such as the nationwide banking service ban on digital currency operators.
The statement was jointly signed by CEOs of prominent companies within the coalition, including Tradefada, Quidax, Nestcoin, and representatives of the Digital Currency Coalition. They reiterated their 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.
The DCC’s goal is to create an environment that fosters shared prosperity for all while promoting innovation and growth in the sector. The coalition assured all stakeholders and citizens of Nigeria of its active participation and input in efforts to make digital currencies mainstream in the country.