"Because our current laws do not expressly state who has the authority to govern cryptocurrencies," Agba added, "there may be a need for an additional agency to serve that function."

The Nigerian Securities and Exchange Commission and the central bank have competed to control cryptocurrencies before the CBN's directive on February 5, 2021. As Bitcoin.com News reported in September 2020, the Nigerian Securities and Exchange Commission (SEC) had classified cryptocurrencies as securities in its crypto guidelines document.

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The SEC announced it had halted the rules after the CBN urged banks to prohibit crypto firms' access to the financial system. Since then, the CBN seems to be the only Nigerian regulator supervising the bitcoin market in the country.

As Time awards him Person of the Year, Elon Musk claims Bitcoin is good for storing value, and Dogecoin is good for transactions

Elon Musk, the CEO of Tesla and SpaceX and the world's richest man, has been awarded Time Magazine's "Person of the Year" for 2021. Musk discussed cryptocurrencies bitcoin (BTC) and dogecoin (DOGE) in an interview with the magazine published Monday (DOGE).

"For over a century, Time has recognized a Person of the Year — the person or organization who, for better or worse, defined the previous 12 months," CEO Edward Felsenthal remarked. "Person of the Year is a sign of influence," he continued, "and few individuals have had more influence on life on Earth, and maybe life outside Earth, than Musk." Musk's net worth is estimated to be in the billions of dollars.

"I played a key role in the creation of Paypal, so my knowledge of the money system at a basic level, how it truly works, the actual mechanics of it," Musk continued.

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The Tesla CEO went on to say that bitcoin is unsuited for payment purposes. "Bitcoin has a low transaction volume and a high cost per transaction," he remarked, emphasizing:

"At its most basic level, it may be used as a store of value."

Musk discussed Dogecoin (DOGE) after emphasising that "primarily, bitcoin is not a good alternative for transactional currency.”

Tesla's CEO has long been a supporter of the meme coin. In the crypto world, he is even referred to as the Dogefather. He previously explained that he holds dogecoin, bitcoin, and ether as personal assets. Tesla and SpaceX, on the other hand, solely own bitcoin.

Switzerland's Largest Online Bank, Swissquote, is planning to introduce its crypto exchange

Swissquote, Switzerland's largest online bank, is purportedly creating its own cryptocurrency trading platform. Cryptocurrency trading is in high demand, according to the company. "The bitcoin rush nearly overwhelmed our compliance and customer support teams."

Swissquote, the country's largest online bank, is purportedly planning to develop its own cryptocurrency trading platform.

Swissquote's chief sales and marketing officer, Jan De Schepper, told Finews.asia that the business wants to launch its own cryptocurrency exchange by the end of the first half of 2022. Swissquote aspires to be "the foremost Swiss distributor of digital assets," he said, adding that the company intends to expand cryptocurrency trading on the platform.

Stablecoins and staking services will also be added to the company's cryptocurrency offerings.

Bitcoin, ethereum, litecoin, XRP, bitcoin cash, chainlink, ethereum classic, EOS, stellar, tezos, augur, ox, cardano, uniswap, aave, cosmos, algorand, filecoin, maker, compound, year.finance, dogecoin, polkadot, and Solana are among the 24 cryptocurrencies supported by the Swiss bank.

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Swissquote began expanding its employees last spring in response to rising demand for cryptocurrencies and will continue to do so, according to De Schepper, who added:

The bitcoin rush nearly overwhelmed our compliance and customer service teams.

In the first half of 2021, the company's net income from crypto investments surged by nearly 1,000 percent to 63.2 million Swiss francs.