The Legal Status of Cryptocurrency Transactions and Digital Currency

The intriguing thesis-based book "The Legal Status of Cryptocurrency Transactions and Digital Currency" explores cryptocurrency landscape and analyzes the complex relationship between cryptocurrencies, digital currency, and Nigerias financial system, comparing trends in Nigeria, the US, and UK.Cryptocurrency has become a new economic reality, despite Nigerias Central Bank Digital Currency (CBDC), eNaira. Regulators like Central Bank of Nigeria (CBN) are concerned about the decentralization, but its restrictions were ineffective due to lack of prohibition in Nigerian law.Nigerias stance shifted after Securities and Exchange Commission (SEC) recognized cryptocurrencies as taxable commodities. However, legal status remains unclear due to concerns about criminal fundraising and money laundering. The book proposes a uniform global regulatory framework.