The legal framework on digital commerce in Nigeria: the ban of cryptocurrency and its effects on her financial space.

Abstract In the era of the digital revolution and the transformation of e-commerce, much of commerce-related activities have been digitized. Cryptocurrency is one of the latest additions which provides seamless transfers of liquid monies virtually. Worried with the problems associated with its operations, owing to the detached or impersonal method of dealings in the not-so-physical way cryptocurrency is transferred throughout the globe. The Central Bank of Nigeria announced a ban on cryptocurrency in the country. It is against this backdrop that this study examines the current legal regime regulating the use and operation of cryptocurrency and the impact of the same on the sustainability of cryptocurrency, particularly, in a monolithic economy. The article concludes on the way out of the perceived quagmire.