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WELCOMED DEVELOPMENT AS TINUBU SIGNS BILL RECOGNIZING CRYPTO, OTHER DIGITAL ASSETS
President Tinubu's administration has introduced a new law that not only relaxes existing restrictions on states raising funds from the capital market but also recognizes virtual and digital assets, such as cryptocurrencies and investment contracts, as securities. This move allows for greater flexibility in fundraising for states and acknowledges the growing importance of digital assets in the financial landscape.

The new law effectively removes barriers that previously limited states' access to capital market funding, promoting economic growth and development. Furthermore, by recognizing digital assets as securities, the administration demonstrates its commitment to adapting to the evolving financial landscape and providing a regulatory framework for these innovative assets.

This development is expected to have far-reaching implications for Nigeria's financial sector, encouraging investment, innovation, and economic growth.
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