Nigeria Doubles Down on Blockchain While Uganda’s Crypto Scene Turns Dark

BTCC / BTCC Square / 99bitcoinsEN /

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2025-05-25 10:35:14

West Africa’s economic heavyweight makes a play for crypto relevance—Nigeria’s drafting a national blockchain policy while regulators elsewhere still treat Bitcoin like a tax evasion scheme.

Meanwhile in Uganda, the dark side of crypto’s gold rush emerges—a local entrepreneur gets kidnapped, proving digital assets won’t magically fix emerging markets’ rule-of-law problems. But hey, at least it’s not another stablecoin collapse.

Nigeria Crypto News: Government to Create New Blockchain Policy

Following recent legislation governing securities and digital assets, the Nigerian government plans to introduce a new blockchain policy.

Bosun Tijani, the Minister for Communications and the Digital Economy, confirmed these plans are in progress.

Tijani believes the policy will accelerate blockchain adoption in the country, even funneling capital to some of the best meme coin ICOs.

The @FMCIDENigeria has released a Whitepaper detailing our efforts to develop a holistic National Blockchain Policy. This Policy aims to provide a structured, inclusive, and forward-looking framework for Blockchain adoption in Nigeria.

The inclusive approach ensures that… pic.twitter.com/bzJWrzEF0U

— Dr. ’Bosun Tijani (@bosuntijani) May 20, 2025

As a result, industry stakeholders are eager to understand the policy’s details and implications.

Nigeria has a dynamic crypto market, yet its crackdown on Binance reflects a mixed approach to the sector.

Uganda Crypto News: Abductions Target Crypto Entrepreneurs

In a shocking incident, the founder of Ugandan blockchain platform Mitroplus Labs was allegedly abducted by a criminal gang in Kampala on May 17.

Festo Iviabi claims he was forced to transfer some of the best cryptos to buy from his wallet before being released.

Africa crypto news: Nigeria plans to introduce a new blockchain policy as a crypto entrepreneur is adopted in Uganda

Mitroplus said the abduction didn’t impact users. However, the price of the Afro meme coin slightly dipped.

This incident highlights crypto entrepreneurs’ real-world dangers and the need for robust security measures.

The decentralized nature of crypto makes it attractive to criminals, who may hack or coerce owners to transfer funds.

Africa Crypto News: Bitget Wallet Sees Explosive Growth in Africa

Bitget Wallet, provided by Bitget, reported a 300% global increase in user base, but more users were from Africa.

The surge reflects a growing reliance on crypto for fund transfers and navigating unstable local currencies.

Gracy Chen, CEO at Bitget, said the wallet “stands strong with the essence of crypto extending beyond our decentralized vision, serving as a critical access LAYER across trading, earning, and payments for onchain assets.”

These figures underscore Africa’s immense potential in crypto, offering an accessible international monetary system.

Recently, the wallet announced a $1 million incentive campaign and a revision of its logo.