Abstract
This study was undertaken to ascertain the view of Nigerian Professional Accountants
towards legislating cryptocurrency in Nigeria. It also examined four of the ostensible benefits
which at the same time constitute risks, from the legislation of cryptocurrency. Quantitative data
were sourced from the respondents through the administration of a structured questionnaire. The
population for the study comprised a stratified group of 1,300 Chartered Accountants among
whom were Tax Practitioners, Financial Analysts, Statutory Auditors, Bankers, Accountants,
Lawyers, Lecturers and other specialists in the field of Accounting. A sample of 250
Practitioners was conveniently selected for the study. Data were analysed using descriptive
statistics. Results revealed that the Professional Accountants in Nigeria are willing to operate in
the Cryptocurrency environment provided the Government would legislate its use. The study
concluded that the legislation of Cryptocurrency or its modified form by the Federal Government
of Nigeria is desirable for the protection of her economy as well as the interest of her citizens.
However, government must take holistic view of the economy and scrutinize every relevant factor
in the purview of the law to ensure the legislative decision is in the interest of the entire citizens.