Five years ago, Nigeria treated crypto like a crime.
Today, the Senate is discussing how to regulate it.
A new bill seeks licensing, transparency, and compliance requirements for Virtual Asset Service Providers (VASPs).
The same industry that was once demonized is now being considered for a formal regulatory framework.
That's progress.
But it raises a difficult question:
How much time did Nigeria lose?
Back in 2021, Nigeria was already one of the world's largest crypto markets.
Instead of building guardrails, we built roadblocks.
Instead of regulating innovation, we tried to stop it.
Today, governments are regulating, institutions are adopting, and investors are participating.
Nigeria is now having conversations that should have happened years ago.
The lesson goes beyond crypto:
When fear drives policy, progress pays the price.
And when a nation spends years fighting the future, the future doesn't stop.
It moves ahead without it.
The question is no longer whether crypto is here to stay.
The question is whether Nigeria will lead the next chapter,or spend another decade catching up.