Africa Crypto Week Recap: Nigeria Develops New Distributed ledger Strategy, Crypto Businessman Kidnapped In Uganda

Africa cryptocurrency updates: Nigeria is set to implement a fresh blockchain policy as a crypto entrepreneur faces challenges in Uganda. At the same time, Bitget Crypto wallet is attracting a growing number of users in Africa.

The regulatory environment for crypto in Africa is changing quickly. In the wake of recent legislation on securities, Nigeria is crafting a new national blockchain policy to enhance crypto adoption.

In a troubling twist, crypto entrepreneurs are being advised to bolster their security practices following the kidnapping of a crypto executive in Uganda.

Simultaneously, Bitget Crypto wallet is experiencing remarkable growth in Africa, with global user numbers soaring by 300%.

Let’s explore the announcement that’s making headlines this week across the continent:

Nigeria Crypto Update: New Distributed ledger Policy in the Works

In light of recent legislation regarding securities and digital assets, the Nigerian government is set to unveil a new distributed database policy.

Bosun Tijani, the Minister for Communications and the Digital Economy, has confirmed that these initiatives are underway.

Tijani is bullish that the policy will expedite blockchain implementation in Nigeria, potentially directing capital towards some of the top meme crypto token ICOs.

The @FMCIDENigeria has published a Whitepaper outlining our plans for a comprehensive National Distributed database Policy. This Policy intends to establish a structured, inclusive, and future-oriented framework for Distributed ledger adoption in Nigeria.

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

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

Consequently, industry participants are eager to grasp the intricacies and ramifications of the policy.

Nigeria hosts a vibrant market, yet its recent actions against Binance indicate a complex strategy toward the industry.

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Uganda Crypto Update: Entrepreneur Abductions Raise Alarm

In a distressing incident, the creator of the Ugandan blockchain project Mitroplus Labs was reportedly kidnapped by a criminal group in Kampala on May 17.

Festo Iviabi alleges he was compelled to transfer some of the best cryptos to buy from his wallet prior to being freed.

(Source)

Mitroplus stated that the abduction did not affect users. Nevertheless, the value of the Afro meme token experienced a slight decline.

This episode underscores the tangible threats faced by crypto entrepreneurs and emphasizes the importance of strong security protocols.

The decentralized characteristic of crypto asset makes it appealing to wrongdoers, who might exploit or pressure owners to move assets.

Africa Crypto Updates: Bitget Digital wallet Experiences Remarkable Growth

Bitget Wallet, offered by Bitget, has reported a 300% increase in its global user base, with a significant portion of users coming from Africa.

This growth signifies a rising dependence on cryptocurrencies for transferring funds and navigating through unstable local economies.

Gracy Chen, CEO of Bitget, remarked that the crypto wallet “is built on the core values of crypto, extending our decentralized vision, acting as a vital access point for trading, earning, and payment for on-chain assets.”

These statistics reveal Africa’s vast potential in the crypto space, providing a viable international monetary system.

Recently, the wallet initiated a $1 million incentive program and updated its branding.

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