The impact of global governance on regulating digital currencies: An evaluation in Lagos State
- Project Research
- 1-5 Chapters
- Abstract : Available
- Table of Content: Available
- Reference Style:
- Recommended for :
- NGN 5000
Background of the Study
The rapid proliferation of digital currencies has transformed the financial landscape, necessitating robust global governance frameworks to regulate these emerging assets. In Lagos State, digital currencies have gained traction as alternatives to traditional financial systems, prompting regulatory challenges and opportunities (Okonkwo, 2023; Musa, 2024). Global governance institutions and national regulators are working to develop standards that ensure transparency, security, and stability in digital financial transactions. These regulatory frameworks aim to mitigate risks such as money laundering, fraud, and market volatility while fostering innovation and financial inclusion. However, the decentralized nature of digital currencies complicates traditional regulatory approaches, leading to discrepancies in enforcement and oversight. This study examines how global governance reforms impact the regulation of digital currencies in Lagos State. It evaluates the effectiveness of existing legal frameworks, the challenges of cross-border regulation, and the implications for economic stability and innovation in the digital economy (Okonkwo, 2023; Musa, 2024).
Statement of the problem
Despite efforts to regulate digital currencies, Lagos State faces significant challenges due to regulatory fragmentation and technological complexities. The lack of a unified global governance framework has led to inconsistent policies and enforcement practices, which undermine market stability and investor confidence. This study seeks to identify these regulatory gaps and propose solutions to enhance the effectiveness of digital currency regulation (Okonkwo, 2023; Musa, 2024).
Objectives of the Study
To evaluate the impact of global governance on the regulation of digital currencies in Lagos State.
To identify challenges in the current regulatory framework.
To propose recommendations for improving digital currency governance.
Research questions
How do global governance reforms affect digital currency regulation in Lagos State?
What are the primary challenges in regulating digital currencies?
What strategies can improve the regulatory framework for digital currencies?
Significance of the Study
This study is significant as it addresses the critical issue of digital currency regulation in a rapidly evolving financial landscape. The findings will assist regulators and policymakers in developing more coherent and effective governance mechanisms, ensuring market stability and fostering innovation in Lagos State (Okonkwo, 2023).
Scope and Limitations of the Study
The study is limited to evaluating digital currency regulation in Lagos State under the influence of global governance reforms. It does not cover other forms of digital financial instruments or regions.
Definitions of terms
Digital currencies: Cryptocurrencies and other forms of digital money that operate on decentralized networks.
Global governance: The collective management of international economic and regulatory policies.
Regulatory framework: A set of rules and guidelines established to oversee financial activities.
Related Project Materials
Assessing the Impact of Social Media Campaigns on Immunization Drives in Warawa Local Government Area, Kano State
Chapter One: Introduction
The impact of digital innovation on Nigeria’s manufacturing sector: An evaluation of ICT integration in Lagos State (2010–2020)
Background of the Study :
Digital innovation, driven by the integration of information and communication technologies (ICT), is transform...
An evaluation of moral education’s influence on students' honesty in financial dealings in primary schools in Bauchi LGA, Bauchi State
Background of the study
Honesty in financial dealings is a crucial life skill that fosters trust and accountability in society. In Bauchi...
EFFECT OF TREASURY SINGLE ACCOUNT ON THE PERFORMANCE OF NIGERIA BANKS
Abstract
This study is on effect of treasury single account on the performance of Nigeria banks. The total populat...
The impact of digital recruitment process innovations on optimizing talent acquisition in banking: a case study of Zenith Bank
Background of the Study
In the increasingly competitive banking industry, the recruitment process is a strategic function that significan...
The Impact of Internal Auditing on Compliance in Rural Development Programs in Mayo-Belwa Local Government Area
Background of the Study
Rural development programs in Mayo-Belwa Local Government Area are essential for improving livin...
An Investigation of the Role of Traditional Festivals in Fostering Community Peace: A Study of Wase Local Government Area, Plateau State
Background of the Study
Traditional festivals have long been central to the cultural and social life of...
An Examination of Morphological Processes in Nigerian Modern Poetry: A Comparative Study of Lexical Innovations
Background of the Study
Modern Nigerian poetry reflects a dynamic interplay between tradition and innovation, particularly...
An examination of capital structure management in Islamic financial institutions
Background of the Study
Capital structure management is crucial for the financial stability and growth of...
An Assessment of the Effectiveness of School-Based Health Programs Led by Nurses in Maiduguri
Background of the Study
School-based health programs are essential in promoting health awareness, preventing diseases, and addressing com...
