**Crypto Regulation Debate Heats Up in Nigeria**

Nigeria's crypto industry is buzzing with calls for a more balanced regulatory framework. Obinna Iwuno, ex-President of SiBAN, champions a compliance-focused approach over criminalization. He argues that Nigeria's current punitive measures, including high-profile legal battles and detentions, harm the nation's global reputation.

Amid ongoing legal issues with Binance, stakeholders fear that harsh regulations could stifle the sector's growth. They point to India's recent resolution with Binance, which combined fines with constructive engagement, as a model to emulate. Local analyst Obinna Uzoije supports this, advocating for dialogue and compliance to foster innovation and investor trust.