Bidemi Oke, Chief Executive Officer of FlashChange, a financial services company, has called for regulatory clarity in the evolving blockchain and cryptocurrency industry.
Speaking at the Lagos Tech Fest, a two-day event focused on the future of technology in Africa, Oke emphasized the need for structured legislation to foster innovation, protect investors, and drive economic growth.
“Legislators need to collaborate with industry players to develop regulations that encourage responsible growth while mitigating potential risks in the blockchain and cryptocurrency space,” he stated during a panel discussion on “Crypto in Nigeria: Fintech Integration, Real-World Applications and Opportunities.”
Blockchain and cryptocurrencies hold immense potential to revolutionize finance and promote financial inclusion across Africa. However, the lack of clear regulations creates uncertainty for businesses and investors.
FlashChange, a leading cryptocurrency exchange platform in Nigeria, facilitates secure and efficient digital asset transactions while adhering to international standards. The company actively advocates for regulations that support the industry’s growth.
Oke’s call for regulatory clarity resonated with many industry participants at the Lagos Tech Fest, which served as a platform for discussions on the intersection of technology, finance, and regulation in Nigeria. Attendees generally agreed on the importance of a methodical and forward-thinking approach to blockchain governance.