[2018-12-13] Nigeria’s Opposition Candidate Promises Cryptocurrency Regulations

[GS-DFN]

With the general elections coming up in Nigeria in February 2019, Atiku Abubakar, the presidential candidate of the People’s Democratic Party (PDP) – the country’s most formidable opposition party has included the formation of a “comprehensive blockchain and digital currency policy” in his policy document.

This statement comes as a surprise because the country’s regulatory establishment led by the Central Bank of Nigeria have in past times held a cautious line toward the cryptocurrency...

Source: Digital Finance News : https://www.digitalfinancenews.com/index.php/2018/12/13/nigerias-strongest-opposition-candidate-promises-cryptocurrency-regulation/

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[Kemarit]

Well, Nigeria is one of the leading countries in terms of crypto adoption in that continent so its about time that someone really takes the lead to make the country be as competitive in the global crypto market. This is a good pitch specially for the younger generations, but I think they really need to focus on their infrastructure first before we can see a crypto boom in Nigeria. A stable internet will be a good start and if my chance he win the election then its going to be a long and bumpy road. But let's see, every continent around the world is making leaps and bounds and we don't want Africa to be left in the closet as well.

[Alex_Zi]

When the market go down some African countries making right steps to the economy of the future. How do you think will it be the next center of high technology?

[Slow death]

I wonder how he will do it? according to this image:



Source: https://en.wikipedia.org/wiki/National_Assembly_(Nigeria)

his party is the minority, then how he will legalized bitcoin?

I am African and in Africa political parties are like computer programs, if in parliament they are going to approve some law, the political partie combine well in advance and if the Z party does not like that law, then on the day of voting of that law all members of the party shall vote against that law. It is different from the political system of the United States where each person in the parliament has its own conscience and makes decision based on its own vision.

[nutildah]

Nigeria, besides being highly involved in crypto and ICOs unproportional to the rest of the world, has also been rocked by its share of devastating MLM and crypto scams, such as OneCoin, Trade Coin Club and another one called WonderBank.

Regulation is probably a good idea as crypto remains tremendously popular there.

They also place 4th worldwide in most searches for bitcoin, just as a testament to how popular it is exactly:

https://trends.google.com/trends/explore?q=bitcoin