Last week, the House of Representatives Ad-Hoc Committee on Cryptocurrency and POS Operations convened a historic meeting with regulators and Virtual Asset Service Providers (VASPs)  with the Stakeholders in Blockchain Technology Association of Nigeria (SiBAN) proudly representing the entire blockchain and digital asset ecosystem.

At the session, chaired by Hon. Olufemi Bamisile, lawmakers and industry leaders shared a unified goal: build a balanced, forward-looking regulatory framework that protects consumers, drives innovation, and positions Nigeria as a global leader in digital finance.

As the foremost self-regulatory body for the blockchain industry, SiBAN presented a comprehensive memorandum that:

• - Advocated for a tiered licensing framework that supports startups and innovation.
• - Called for the downward review of the ₦1 billion SEC capital requirement, aligning Nigeria with global norms.
• - Proposed the Blockchain & Digital Assets Act to unify and harmonize fragmented regulations.
• - Reinforced the need for local content protection, consumer protection mechanisms, and AML/KYC compliance.

This engagement marks a turning point, a shift from uncertainty to collaboration. Together, we can craft a framework that opens doors for innovation, empowers Nigerian talent, and safeguards our financial ecosystem.

At SiBAN, our mission remains clear:

• -To build a safe and enabling environment for blockchain innovation in Nigeria.
• -To work hand-in-hand with regulators to shape smart, inclusive policies.
• -To amplify the voice of all ecosystem players  from startups to institutional leaders.

Now is the time for all stakeholders; founders, exchanges, compliance officers, and investors to join SiBAN.

Together, we can define the future of digital assets in Nigeria and ensure that innovation thrives right here at home.

To become a member or partner with SiBAN, contact membership@siban.org  or join our community on Telegram