Nigeria continuous banning of crypto

[Vannie12]

I still think that restraining people to use crypto is just sad. Crypto is a freedom, and the idea of maybe they are planning to build their own, it will start as a regulated crypto that is governed by the government. I know crypto will not remain unregulated, but I think we need to experience its greatness before it does. For sure there will be lot more of rules and regulations for crypto in the coming years once the government figure out how to take it by their hands.

[virasog]

I still think that restraining people to use crypto is just sad. Crypto is a freedom, and the idea of maybe they are planning to build their own, it will start as a regulated crypto that is governed by the government. I know crypto will not remain unregulated, but I think we need to experience its greatness before it does. For sure there will be lot more of rules and regulations for crypto in the coming years once the government figure out how to take it by their hands.

Nigeria or any other country can't forever ban the crypto currencies. When they will see that that people are still using crypto and also other countries are adopting it, they will have to change their decision of banning and think on regulating crypto. Its just a matter of time when crypto will be legal everywhere.

[ultrloa]

I still think that restraining people to use crypto is just sad. Crypto is a freedom, and the idea of maybe they are planning to build their own, it will start as a regulated crypto that is governed by the government. I know crypto will not remain unregulated, but I think we need to experience its greatness before it does. For sure there will be lot more of rules and regulations for crypto in the coming years once the government figure out how to take it by their hands.

Nigeria or any other country can't forever ban the crypto currencies. When they will see that that people are still using crypto and also other countries are adopting it, they will have to change their decision of banning and think on regulating crypto. Its just a matter of time when crypto will be legal everywhere.

They can if they decide to close their door to crypto forever since they can implement a total ban without turning back on it, but hopefully they will realize that there's a huge piece on or money they messing up for this banning. But I do hope that this is temporary only since the participation of Nigeria is important in crypto knowing that they are one of the best country to adopt the changes and make it as a legal tender since this could contribute to make their economy grow.

[suzanne5223]

Firstly, no government of a country can totally ban Cryptocurrency and they already understand that crypto is inevitable.
Having said that, I have said it in some of my posts before now that the Nigerian government is following the footsteps of the Chinese government and I don't know if they by any chance seek a piece of advice from the Chinese before creating their CBDC.

[NastyGambler]

It is becoming more strict to transact crypto in Nigeria as the CBN now plant agents on Binance P2P to trade with you and intentionally add crypto keywords to the payment transaction so it can alert the bank to block the receiver's account.

This however is becoming outrageous for the Nigerian government and with no single doubt, the non-compliance of the young Nigerians not believing and making use of their newly launched E-naira must have triggered this action.

These wise traders are just exhausted of having their money controlled by the government.

Source: https://cointelegraph.com/news/nigerian-banks-tracking-customer-accounts-for-crypto-trading

I dont know about Nigeria specially but worldwide every coutry that is restricted have general problems with their goverment.

[Taskford]

It is becoming more strict to transact crypto in Nigeria as the CBN now plant agents on Binance P2P to trade with you and intentionally add crypto keywords to the payment transaction so it can alert the bank to block the receiver's account.

This however is becoming outrageous for the Nigerian government and with no single doubt, the non-compliance of the young Nigerians not believing and making use of their newly launched E-naira must have triggered this action.

These wise traders are just exhausted of having their money controlled by the government.

Source: https://cointelegraph.com/news/nigerian-banks-tracking-customer-accounts-for-crypto-trading

I dont know about Nigeria specially but worldwide every coutry that is restricted have general problems with their goverment.

I don't know if we can call it that way but I think one thing is for sure here they want to use that as market distractor since we see that spreading when market starting to collapsed but unfortunate things to them this fud didn't hurt the market totally. Also there's hidden agenda on that implementation so I think people should be aware on that.

I also think that this banning implementation will not last long knowing crypto is now gaining popularity in the mainstream.

[Kakmakr]

Nigeria has long since been labelled by the West as the Scam capital of the world and now the Nigerian government are scamming their own citizens? They do everything in their power to Stop Bitcoin, but their own shitcoin is being supported.  

This is going to become the trend in the East too... with China and their Govcoin and some of the other Asian countries. When you have a totalitarian government... they misuse their power to retain their power. We saw what New York did with the introduction of the Bit License in the past. (barrier to entry to stall Bitcoin adoption)  

[JayTrain]

I think they didn't do it deliberately, as far as I know, everything is not so good with the economy in Nigeria, if they thought well, they could raise the economy with cryptocurrency by injecting new money masses, but it's easiest to ban, for example, El Salvador, they passed laws with bitcoin and everything is fine with them.

[nigthcrowd]

It is becoming more strict to transact crypto in Nigeria as the CBN now plant agents on Binance P2P to trade with you and intentionally add crypto keywords to the payment transaction so it can alert the bank to block the receiver's account.

This however is becoming outrageous for the Nigerian government and with no single doubt, the non-compliance of the young Nigerians not believing and making use of their newly launched E-naira must have triggered this action.

These wise traders are just exhausted of having their money controlled by the government.

Source: https://cointelegraph.com/news/nigerian-banks-tracking-customer-accounts-for-crypto-trading

The progress of the nation is seen from its government. If the state bans cryptocurrencies because of unnatural welds, it is equally afraid if its citizens become smart and advanced. If you can share opinions, in one of the asian countries, Indonesia on the indodax platform has just added two new crypto assets, although the news mentions their country has not actually legalized crypto as a financial transaction tool.

[arwin100]

Nigeria has long since been labelled by the West as the Scam capital of the world and now the Nigerian government are scamming their own citizens? They do everything in their power to Stop Bitcoin, but their own shitcoin is being supported.  

This is going to become the trend in the East too... with China and their Govcoin and some of the other Asian countries. When you have a totalitarian government... they misuse their power to retain their power. We saw what New York did with the introduction of the Bit License in the past. (barrier to entry to stall Bitcoin adoption)  

They don't want to create a good innovation on their country since their government want their citizen to be outdated and doesn't have knowledge on the tech so that they can still continue to manipulate them for their politicians benefit maybe when election day cames they should elec the real leader who can give them better platform and have political will to enhance their current status and also the one who adopt the new techlogy as well bitcoin and other that can help them improve.

[5thFear]

It is becoming more strict to transact crypto in Nigeria as the CBN now plant agents on Binance P2P to trade with you and intentionally add crypto keywords to the payment transaction so it can alert the bank to block the receiver's account.

This however is becoming outrageous for the Nigerian government and with no single doubt, the non-compliance of the young Nigerians not believing and making use of their newly launched E-naira must have triggered this action.

These wise traders are just exhausted of having their money controlled by the government.

Source: https://cointelegraph.com/news/nigerian-banks-tracking-customer-accounts-for-crypto-trading

Nigeria was actually going very fast in this field and their whole youth was actually going crazy. The govt should had supported their people instead of blocking their way. Sad to hear about such a move, though it won't stop people from using it but it surely will bring the govt and the people face to face.

[Awwal08]

Nigeria continues to ban cryptocurrency because it has a negative impact on their economy, and allowing it would mean losing control over their customers. Customers will have complete control over their money, while Nigeria's central banks would lose money. To keep its clients, they introduced E-naira.

[islam@334]

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[Badubuchi]

This ugly decision of the government of continuous ban on crypto has indirectly affected the fast money making avenue in Nigeria which ordinarily should be benefiting the youths who graduate from school without any employment nor source of income.
It is a step of backwardness on the part of the government by preventing the interested parties from benefiting from the global trend of digital currency

[Awwal08]

It is becoming more strict to transact crypto in Nigeria as the CBN now plant agents on Binance P2P to trade with you and intentionally add crypto keywords to the payment transaction so it can alert the bank to block the receiver's account.

This however is becoming outrageous for the Nigerian government and with no single doubt, the non-compliance of the young Nigerians not believing and making use of their newly launched E-naira must have triggered this action.

These wise traders are just exhausted of having their money controlled by the government.

Source: https://cointelegraph.com/news/nigerian-banks-tracking-customer-accounts-for-crypto-trading

I can see now that utilizing Binance P2P has been giving me issues. Why are they acting in this manner when they may even be pleased that cryptocurrencies are lowering their unemployment rate? They should be aware that despite cryptocurrencies being legal in Nigeria, not everyone would use it. So they now oppose our happiness.

[Eden Loomis]

Many governments are not allowed the crypto because they don't have any law system for it. Therefore, they choose to ban it for make everything easier

[|MINER|]

Nigeria showing One of the reasons that   for banning the cryptocurrency is that its country's rampant corruption will increase its money laundering and illegal transactions through Bitcoin and that's why the bann cryto . I think banning is not the only solution They could have kept it in a stable state and should have looked at acquiring more capabilities to control it.  I think this work is not only for Nigeria but all like minded countries should take action on this matter #Banning crypto is not the solution.

[rendravolt]

It is becoming more strict to transact crypto in Nigeria as the CBN now plant agents on Binance P2P to trade with you and intentionally add crypto keywords to the payment transaction so it can alert the bank to block the receiver's account.

This however is becoming outrageous for the Nigerian government and with no single doubt, the non-compliance of the young Nigerians not believing and making use of their newly launched E-naira must have triggered this action.

These wise traders are just exhausted of having their money controlled by the government.

Source: https://cointelegraph.com/news/nigerian-banks-tracking-customer-accounts-for-crypto-trading

After all, news like that is common for banks in a country to be banned for bitcoin, what needs to be underlined here is that bitcoin still exists, even though there is often bad news every year.

[Ben Barubal]

It is becoming more strict to transact crypto in Nigeria as the CBN now plant agents on Binance P2P to trade with you and intentionally add crypto keywords to the payment transaction so it can alert the bank to block the receiver's account.

This however is becoming outrageous for the Nigerian government and with no single doubt, the non-compliance of the young Nigerians not believing and making use of their newly launched E-naira must have triggered this action.

These wise traders are just exhausted of having their money controlled by the government.

Source: https://cointelegraph.com/news/nigerian-banks-tracking-customer-accounts-for-crypto-trading

What the government is doing in Nigeria is not good news for Crypto enthusiasts there. The crypto lovers out there should now be thinking of an alternative way so that if the cryptocurrency does go down, they won't have problems in the end.

I just hope that eventually, the Nigerian government will realize that crypto will help them a lot in the future, I hope they don't see negative things in it.

[budi691]

become a dilemma for young people in Nigeria, when they want to keep up with the development of cryptocurrency technology but on the one hand the government forbids it, I think because the government doesn't understand what bitcoin really means, which finally caused them to decide to take this action against cryptocurrencies