Nigeria's crypto community has lauded Europe's Markets in Crypto-Assets Regulation (MiCA) stablecoin rules, stating that it's crucial for jurisdictions to prioritize their interests in crypto projects. MiCA's "Stablecoins Regime" will take effect on June 30, 2024, requiring issuers and entities to obtain a MiCA license to offer or trade asset-referenced tokens (ARTs) or e-money tokens (EMTs) within the EU. Nigerian data and policy analyst Obinna Uzoije suggests that the Economic Community of West African States (ECOWAS) could benefit from a similar regulatory framework, attracting more investors and combating money laundering and terrorism financing.