Obinna Iwunna, the president of the Stakeholders in Blockchain Technology Association of Nigeria (SIBAN), has expressed concerns about the implementation of the Finance Act, 2023, which introduced a 10% tax on gains from the disposal of digital assets, including cryptocurrencies. Iwunna criticized the premature introduction of the law and highlighted the ongoing issue with the Central Bank of Nigeria (CBN) instructing commercial banks not to facilitate financial transactions involving cryptocurrencies. He emphasized the need for clarity and enabling infrastructure before imposing taxes and called for a collective definition of cryptocurrency to develop appropriate policies, regulations, and taxation measures. Iwunna also stressed the importance of ensuring that taxation does not impede the growth of the cryptocurrency industry.