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Nairaland Forum / Nairaland / General / Politics / Countries That Have Banned Cryptocurrency (6933 Views)
Falana: Northern And Southern Governors Have Banned Open Grazing In Nigeria / Why FG Banned Cryptocurrency Use In Nigeria - Leaked / Now That The South East Governors Have Banned Open Grazing, I Pity ESN (2) (3) (4)
Countries That Have Banned Cryptocurrency by topydale: 1:03am On Feb 06, 2021 |
These are the countries that have declared cryptocurrencies as illegal ALGERIA 2018 BOLIVIA 2014 EQUADOR 2014 BANGLADESH. 2012 NEPAL 2019 MACEDONIA. 2016 NIGERIA 2021 |
Re: Countries That Have Banned Cryptocurrency by topydale: 1:07am On Feb 06, 2021 |
The question is; is this the kind of league of nations that Nigeria should belong? 75 Likes 1 Share |
Re: Countries That Have Banned Cryptocurrency by valentineuwakwe(m): 1:19am On Feb 06, 2021 |
They Did not banned instead they say its illegal in there country and not a legal tender! 2 Likes |
Re: Countries That Have Banned Cryptocurrency by Sammytee001(m): 1:59am On Feb 06, 2021 |
valentineuwakwe: All this one na story. The point is that, so far we can't directly trade Crypto without facing consequences, it's illegal, and indirectly/directly, that means it's banned whether you like it or not. All the one you're saying is English ![]() 11 Likes 1 Share |
Re: Countries That Have Banned Cryptocurrency by plaindealer: 2:18am On Feb 06, 2021 |
This is a good move by the CBN, it's dangerous and counter productive for the general population to shift traditional banking, trading and investment system from the banking and regulatory structure to unregulated and counterproductive crypto currency system. Money inflow and outflow through the banking system guarantees availability of funds for investments, loans and financing across the general population, but when you remove money from the banking system to a side person to person asset transaction, you are effective remove money and forex from market, you are no longer recycling money through the system to keep the economy going, you are denying funds for loans, business financing, housing mortgage and so on. Rich and developed countries can afford to allow crypto in their countries, but Nigeria can not especially when Nigerians are now turning dollar remit from abroad into a person to person crypto deal. Crypto is a valuable tool for money launderers, shady dark web dealings, drug trade, human trafficking transactions, terrorism funding and so on.. You can not keep complaining about the economy, lack of jobs and infrastructures while at the same time sabotaging the same economy with crypto. You can not have it both ways, crypto is not good for us at the moment.. 27 Likes 7 Shares |
Re: Countries That Have Banned Cryptocurrency by privaldo: 3:36am On Feb 06, 2021 |
plaindealer: Crypto is like the proverbial cockroaches that will survive a nuclear blast. Nigeria has one of the highest P2P rate in the world, so I expect the crypto populace, to fall back to P2P. The CBN is shooting itself on the foot and only helping to kill the Naira even further, but what do I know? 5 Likes
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Re: Countries That Have Banned Cryptocurrency by Nobody: 3:48am On Feb 06, 2021 |
plaindealer: Some of us have always known cryptocurrencies were created to kill off poorer/small countries.. How Nigerians are helping kill Nigeria through shift to crypto is amazing. It's just extreme greed. Do they know the volume of USD Forex that escapes via cryptos. I see China and russia banning it aswell real soon. 3 Likes 1 Share |
Re: Countries That Have Banned Cryptocurrency by Nobody: 3:50am On Feb 06, 2021 |
privaldo: You don't know anything... cryptos would kill Nigeria faster than a nuclear bomb. It would ruin efforts on all your exports. |
Re: Countries That Have Banned Cryptocurrency by privaldo: 4:05am On Feb 06, 2021 |
Esseite: Read again and comprehend. Don't rush to comment, I wasn't talking about Nigeria's death but that of cryptos in Nigeria. Also, it would be in your folly to imagine that I want Nigeria's survival. 15 Likes |
Re: Countries That Have Banned Cryptocurrency by privaldo: 4:13am On Feb 06, 2021 |
Esseite: Conspiracy theorist, cryptos were created to avoid the unnecessary regulations of traditional regulatory authorities. Nobody wants to kill any poor/small country, stop shifting blames. Nigerians are looking for how to survive, since the government has embarked on creating policies that are detrimental to the masses. China has tried to ban crypto and failed, they have one of the largest P2P system in the world. 11 Likes
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Re: Countries That Have Banned Cryptocurrency by Ajanlekoko4: 4:18am On Feb 06, 2021 |
But these are not nice Countries going by their names 6 Likes |
Re: Countries That Have Banned Cryptocurrency by Nobody: 4:22am On Feb 06, 2021 |
privaldo: Nigerians are looking for how to survive by killing the Nigeria itself?... Nigeria is still battling China and mass volume of import which leads to massive escape of forex, now that is being treated by the massive loans from china. How do you balance the escape through cryptos? cryptos were created to avoid the unnecessary regulations of traditional regulatory authorities.why the avoidance of monetary policies of a nation that guard its international trade while creating balance? Crypto currency is a death nail on import dominated countries. |
Re: Countries That Have Banned Cryptocurrency by Nobody: 4:27am On Feb 06, 2021 |
privaldo: Well, you have said it all at the bolded... |
Re: Countries That Have Banned Cryptocurrency by Rikidony(m): 5:29am On Feb 06, 2021 |
plaindealer: One of the dumbest thing, I have ever read today, Crypto currency killing Nigeria, let me tell you, the world is gonna go Crypto whether the Nigeria government likes it or not, the government better comes up with a strategy to survive during a Crypto dominated world, China tries banning Crypto in 2013 but it grew like wildfire today China is creating it's own government back Crypto. When Inksnation starts their Merchandise program by May 12 and adopt their Pinkoin Crypto as their own asset, I will see if the FG will go ask business owners to stop accepting Pinkoin. Well have removed all my money on Luno, the once on Roqqu is pending, I have up to $200 on Binance, whether the government likes it or not, they can't stop Crypto and can't force me to save money in the bank. 12 Likes 1 Share |
Re: Countries That Have Banned Cryptocurrency by potent5(m): 6:06am On Feb 06, 2021 |
Wrong question, sir. Question should be: why does Nigeria like to identify with and belong to an unambitious group of countries? ![]() ![]() ![]() topydale: 4 Likes |
Re: Countries That Have Banned Cryptocurrency by neyorlmogzy(m): 6:13am On Feb 06, 2021 |
topydale:Looking at this list, all you can see is poverty and backwardness, with underdeveloped ideas 6 Likes |
Re: Countries That Have Banned Cryptocurrency by abumeinben(m): 6:15am On Feb 06, 2021 |
topydale: So Nigerian leaders found their place? -180⁰ thinking people. 5 Likes 1 Share |
Re: Countries That Have Banned Cryptocurrency by Mightyhaiz: 6:37am On Feb 06, 2021 |
Ajanlekoko4:yes na.. na the kind league u go see Nigeria. Terrorism,corruption,infant mortality,poverty leagues and more 1 Like 1 Share |
Re: Countries That Have Banned Cryptocurrency by helinues: 6:39am On Feb 06, 2021 |
The truth is the unstable price of the bitcoin would have big effect in our economy.. |
Re: Countries That Have Banned Cryptocurrency by Nobody: 6:52am On Feb 06, 2021 |
We are always known for the bad reasons. Let's see how far they can go with this anti-people policy. |
Re: Countries That Have Banned Cryptocurrency by Nobody: 6:53am On Feb 06, 2021 |
plaindealer: Your head get oil, you said it all. Nigeria economy will crumble if crypto sales boom more than now. Permit me to also tell you that crimes like armed robbery will rise. Most yahoo boys will still want to fund their lavish lifestyles. After effects or consequences on Nigerians. |
Re: Countries That Have Banned Cryptocurrency by Olabode971(f): 6:58am On Feb 06, 2021 |
Who noticed, Apart from Algeria, other countries listed here were "Struggling Countries Association..." Now that Nigeria has joined them, na scatter scatter e remain for this shithole.. #And it pained me say I be Nigerian. Assuming one can choose his/her nationality before coming to this world, Am 100% sure I won't choose this Shithole. 2 Likes 2 Shares |
Re: Countries That Have Banned Cryptocurrency by royal231(m): 7:03am On Feb 06, 2021 |
Ignoramus country.. Banning banks have no effect whatever.. You just opened business for Bitcoin atm operators.. That's gonna be the new trend Like in EU countries the govt discourages crypto then bitcoins atm grew.. They are surprised.. This isn't 1983 and most Nigerian youths don't depend on oil.. Also most banks and money transfer runs in the ripple block chain XMR.. its implemented in banks but not for Nigerians.. If people were loosing they wouldn't care.. The bull run from October on crypto took them by surprise.. The only problem here be say Aboki never understand bitcoin and can never hoard it like our naira.. Aboki dollar dey complain for bad business.. Dem come look into it see say na crypto men need.. 3 Likes |
Re: Countries That Have Banned Cryptocurrency by oyatz(m): 7:07am On Feb 06, 2021 |
Esseite: India recently banned crypto Currencies in their country but curiously enough, their Government promised to create their own crypto currency. |
Re: Countries That Have Banned Cryptocurrency by Randerl: 7:09am On Feb 06, 2021 |
topydale: NO UK NO USA NO CHINA NO EU COUNTRY... 2 Likes 1 Share |
Re: Countries That Have Banned Cryptocurrency by oyatz(m): 7:10am On Feb 06, 2021 |
Olabode971: Why did God created you a Nigerian, did God make a mistake? |
Re: Countries That Have Banned Cryptocurrency by royal231(m): 7:12am On Feb 06, 2021 |
oyatz: Banning?! Has it affected the crypto community in India or is it growing? Has it affected the price of Btc? It would only drive the prices higher.. If they create their crypto will it run on exchanges? Will it not be traded for other crypto?! Cheers 1 Like |
Re: Countries That Have Banned Cryptocurrency by johnmartus(m): 7:17am On Feb 06, 2021 |
Continue copying and pasting inexplicable trash. plaindealer: 3 Likes 1 Share |
Re: Countries That Have Banned Cryptocurrency by Jestin: 7:27am On Feb 06, 2021 |
I stand with bitcoin |
Re: Countries That Have Banned Cryptocurrency by lkillbrokehoes: 7:28am On Feb 06, 2021 |
Them banning bitcoin dosen't mean it won't thrive, they are just wasting there damn time! crypto made me who I am today and also millions of people worldwide that benefitted from it, them blocking it dosent mean people won't buy or sell crypto. thank God I'm not in that shíthole country 4 Likes |
Re: Countries That Have Banned Cryptocurrency by Blue3k(m): 7:31am On Feb 06, 2021 |
Im assuming you guys are just going to use A VPN to do the trades anyway. I doubt most of you guys care about the CBN so push forward if you feel the risk is worth the reward. |
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