According to Cointelegraph, Nigeria's tax regulator, the Federal Inland Revenue Service (FIRS), plans to seek the support of the National Assembly to formulate a comprehensive new law to regulate cryptocurrencies in the country. Zacch Adedeji, executive chairman of FIRS, announced plans to launch a proposed legislation in September. The new bill will target the growing cryptocurrency industry, ensuring that its advantages serve the Nigerian economy while reducing potential risks.