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Nairaland Forum / Nairaland / General / Politics / Countries That Have Banned Cryptocurrency (6934 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)
Re: Countries That Have Banned Cryptocurrency by Toljazzy: 7:32am On Feb 06, 2021 |
And so? |
Re: Countries That Have Banned Cryptocurrency by sheggsliveth: 7:37am On Feb 06, 2021 |
How is this real, I just withdrew from luno last 2 days...can even show you prove self |
Re: Countries That Have Banned Cryptocurrency by Inteltower: 7:38am On Feb 06, 2021 |
plaindealer: Na so thunder go fire you and your stupid analysis, was it crypto in the first place that made our economy bad on the onset ? So because of the Naira that keeps depreciating and can't help the lower class you want us all not to progress but wait till the idiot leaders start leading right and Naira find its way to glory days again U must be mad, this failed system of government and crippling economy has not only failed Nigerians especially youths but bound us to grow or not grow whenever it pleases. See how crypto currency under the blockchain ideology is creating prosperity and making people financially independent of many failed institutions and policies; setting people free like us here in Nigeria. Their nonsense can't stop us demanding crypto I can't be financially enslaved to a failed currency and a criminally masked banks that still your money with stupid charges Guy u no get sense at all 7 Likes 1 Share |
Re: Countries That Have Banned Cryptocurrency by dimugonabo: 7:52am On Feb 06, 2021 |
privaldo: My real nigga. True talk. |
Re: Countries That Have Banned Cryptocurrency by dazzlingd(m): 7:59am On Feb 06, 2021 |
plaindealer: How many kidnappers, terrorists and corrupt politicians have even been prosecuted in Nigeria. Please list 5 4 Likes 1 Share |
Re: Countries That Have Banned Cryptocurrency by dazzlingd(m): 8:14am On Feb 06, 2021 |
helinues: How? |
Re: Countries That Have Banned Cryptocurrency by FOXDOSSIER: 8:15am On Feb 06, 2021 |
They all have one thing in common- backwardness 1 Like |
Re: Countries That Have Banned Cryptocurrency by orisa37: 8:17am On Feb 06, 2021 |
Re: Countries That Have Banned Cryptocurrency by SweetiliciousD: 8:18am On Feb 06, 2021 |
topydale: All I can see is list of impoverished and poverty ridden countries. 3 Likes 1 Share |
Re: Countries That Have Banned Cryptocurrency by orisa37: 8:19am On Feb 06, 2021 |
EMEFIELE HAS PROBABLY GONE DEMENTIA TOO. |
Re: Countries That Have Banned Cryptocurrency by trendiceo(m): 8:21am On Feb 06, 2021 |
With all these comments and counter comments, the big question now is which way do we now go in selling our bitcoins to bypass this ban or regulation? Pls I need an answer because I'm just confused |
Re: Countries That Have Banned Cryptocurrency by orisa37: 8:22am On Feb 06, 2021 |
EMEFIELE HAS PROBABLY GONE DEMENTIA TOO. THESE ARE SHARIA CLUBS. NIGERIA IS A DEMOCRACY FOR GOD'S SAKE. 1 Like |
Re: Countries That Have Banned Cryptocurrency by orisa37: 8:28am On Feb 06, 2021 |
They Did not ban, instead they say it's illegal in their country and not a legal tender! I agree. |
Re: Countries That Have Banned Cryptocurrency by privaldo: 8:46am On Feb 06, 2021 |
dimugonabo: The guy think say na all man get the same mind set. |
Re: Countries That Have Banned Cryptocurrency by olaks4real(m): 8:46am On Feb 06, 2021 |
THAT CBN CIRCULAR ON CRYPTO CURRENCIES... 1. Digital currency (issued by a country's central bank) is different from crypto (virtual) currencies. 2. I don't know of any central bank IN THE WORLD that supports crypto currency. Digital currencies, yes. Crypto currencies, No! 3. FCA (Financial Conduct Authority) of UK issued circular against crypto currencies which came into effect in the UK in January of this year 2021 4. The CBN has not stopped people from trading in bitcoin and other crypto currencies (if they want the risk), all that the CBN has said is that banks should not get involved in the trade. 5. CBN regulates the banks, she has the responsibilities to protect them. Same way the FCA in the UK protected the UK Financial industry. 6. Between 2018 and today, no less than 45 countries around the world have OFFICIALLY written circulars against crypto currencies. 7. As at today, the central banks worldwide are all against crypto (aka virtual) currencies. But as with homosexuality and Marijuana usage, maybe in the near future, crypto currencies would be acceptable by central banks in the world. 8. The Central bank of Nigeria has done the right thing as of this moment. Positions may shift as things evolve later in the future. - Otunba Fad 2 Likes |
Re: Countries That Have Banned Cryptocurrency by Nobody: 9:25am On Feb 06, 2021 |
oyatz: Good... when nations create their own currency it only serves as a medium of exchange like the yen to naira, dollar to naira etc it becomes no different from the e-wallet.. but would anyone want to buy Nigerian coin? |
Re: Countries That Have Banned Cryptocurrency by BestMan001: 9:29am On Feb 06, 2021 |
So you are happy that Nigeria is among? |
Re: Countries That Have Banned Cryptocurrency by jedisco(m): 9:37am On Feb 06, 2021 |
plaindealer: Brother you're confused. Crypt0 became more popular in Nigeria over the last 18 months. Before that, how many of those things you mentioned were in place? It doesn't replace the traditional banking system. To buy, I'd still have to deposit into a bank account and withdrawals are also into a bank account Nigeria is bereft with drug trade, human trafficking transactions, terrorism e.t.c. how many of them are done via crypt0? Learn to understand stuff 1 Like |
Re: Countries That Have Banned Cryptocurrency by StaffofOrayan(m): 9:38am On Feb 06, 2021 |
I agree, These guys are being sponsored by crypto Hehehehe By the time the Jihad is done, una go get sense
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Re: Countries That Have Banned Cryptocurrency by jedisco(m): 9:40am On Feb 06, 2021 |
Esseite: On the contrary, China is racing to be one of the frist countries to roll out their digital currency. Most bitc0in miners are in China |
Re: Countries That Have Banned Cryptocurrency by Nobody: 9:57am On Feb 06, 2021 |
jedisco: When countries prop up their indigenous digital currency, it's no different from the regular e-wallet. Would Nigerians patronize Nigerian digital coins? |
Re: Countries That Have Banned Cryptocurrency by topydale: 10:21am On Feb 06, 2021 |
potent5:You're 100% correct 1 Like |
Re: Countries That Have Banned Cryptocurrency by topydale: 10:21am On Feb 06, 2021 |
neyorlmogzy:absolutely |
Re: Countries That Have Banned Cryptocurrency by topydale: 10:22am On Feb 06, 2021 |
abumeinben:Among impoverished nations 2 Likes |
Re: Countries That Have Banned Cryptocurrency by topydale: 10:24am On Feb 06, 2021 |
SweetiliciousD:Exactly 1 Like |
Re: Countries That Have Banned Cryptocurrency by HaBaE(m): 10:30am On Feb 06, 2021 |
topydale: I tire oo... |
Re: Countries That Have Banned Cryptocurrency by humilitypays(m): 10:34am On Feb 06, 2021 |
topydale:All 6th world poor, wretched countries. Please add Syria, Yemen, Somali, Myammar, Guyana, Bangladesh, Chad, Burkinafaso, Burundi, etc Ndi ara ![]() ![]() ![]() 1 Like |
Re: Countries That Have Banned Cryptocurrency by jedisco(m): 10:39am On Feb 06, 2021 |
Esseite: Till it's dome, no one can say. We already use our indigenous naira. If not that CBN is bent on devaluation of the naira by encouraging roundtripping. Highly connected folks cam make billions of naira out of thin air by just making a few phone calls...get dollar at CBN rate and sell at market rate. Even Sanusi confirmed this and we wonder why the naira is on a downward slide. It's not the person selling akara or the bus driver causing the dollarisation of the country, devaluation of the naira and subsequent inflation. How can more money be traded in crypt0 in Nigeria than on our stock exchange? Simple...the stock exchange is a corrupt mix 1 Like |
Re: Countries That Have Banned Cryptocurrency by Nobody: 10:42am On Feb 06, 2021 |
jedisco: Yes... now that difference in FX has its advantage and disadvantage.. Manufacturers buy from CBN, raw material dealers buy from CBN, if you and I whom are prone to foreign items buy at CBN rates aswell, we would be killing off our manufacturing industry. It was design to curb unnecessary demand for forex. The disadvantage is that same CBN sells to some individuals cloned as manufacturers which in turn sell at market rate. |
Re: Countries That Have Banned Cryptocurrency by jedisco(m): 10:49am On Feb 06, 2021 |
Esseite: I don't see any advantage this has brought to Nigeria. There has been no country in the world that such policies have helped. I don't blame myself for the ineptitude of CBN. There are ways to encourage manufacturing. Countries are doing it daily. Having an unstable currency is the easiest way to kill manufacturing. When the president spent forex from the public purse treating himself abroad, we didn't bother about the effect on the naira. The dual exchange rate is the number one reason responsible for the devaluation of the naira and will continue to be that way except it's stopped. 2 Likes |
Re: Countries That Have Banned Cryptocurrency by Nobody: 11:33am On Feb 06, 2021 |
topydale:China did also. |
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