PANews reported on August 19 that according to CoinDesk, citing Punch Nigeria, the Nigerian Federal Inland Revenue Service (FIRS) plans to submit a bill to tax the cryptocurrency industry to Parliament for approval by September. Zacch Adedeji, executive chairman of the tax agency, revealed the plan at a meeting with the Senate and House of Representatives Finance Committees of the National Assembly. Adedeji said: "Our plan is to first formulate laws to regulate this behavior, which is why we are here with the legislature, which will be the basis for the charges."