The parliamentarians of the Economic Community of West African States (ECOWAS) are unanimous: there is an “urgent” need to regulate the use of crypto-currencies in the community space. This resolution was taken at the end of the relocated meeting of four parliamentary committees in Ouagadougou, on crypto-currencies.

After several communications on the positive and negative impacts of digital currency on investments in the countries of the region, the parliamentarians called for “urgent” regulation of the cryptocurrency market. For the representative of the President of the ECOWAS Commission, Koffi Apraku, globalization, security threats and the COVID-19 pandemic have "clearly exposed" the limits of existing means of payment in the sub-region. Referring to measures taken by Nigeria's central bank and the South African tax agency against cryptocurrencies, Koffi Apraku said it had become "extremely" necessary for the ECOWAS parliament to initiate this discussion. and listen to the opinions of experts in the field. In view of the "worrying" rise in the activity of this currency in the community, Nouhoune Bida Youssoufou, deputy of the ECOWAS parliament, explained that the representatives of the populations of the sub-region have made recommendations. Thus, the parliamentarians urge the Heads of State and Government of ECOWAS to take “urgent measures” in order to protect the savings of the populations and the ECOWAS Commission to “rigorous monitoring” of these measures which will be taken.