The House of Representatives has resolved to investigate the national security implications of the current status of cryptocurrency, blockchain, and other digital asset transactions.
This followed the adoption of a motion by Rep. Isiaka Ibrahim (APC-Ogun) during plenary in Abuja.
Moving the motion, Isiaka said that there are growing global concerns about the national security implications of cryptocurrency transactions through cryptocurrency exchanges, including consumer and investor security.
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He said these exchanges enable money laundering by criminals and terrorists for their illicit activities.
Adopting the motion, the House said it would investigate international money transfer operators, payment gateways and platforms, and cloud computing.
Others include infrastructure (networks) and all online peer-to-peer (P2P) marketplace, utility sharing-based platforms, and their practices in Nigeria.
The lawmakers said the investigation would identify threats to national security and gaps in the legislative framework, statutes, and regulations to the detriment of the country.
