Cryptocurrency in Nigeria: From ban to taxation

[uche6215]

Dat act wey di former president signed, I no sure sae dis present president go even use am. Tinubu na progressivist so anything wey no resemble im, im no dey use am. If Nigerian government won dey tax cryptocurrency den let dem convert E-naira to exchange platforms so dat piple go visit am well well. Den dem fit collect their tax from there. Nigeria just need good working Economics team wey go make things very good for di country.

Di best ecoonomics team wey e don come to this country nai be Goodluck time. Omen that team was very good.

I don't know why the sequence tend to trend in  every Nigerian mindset which is that the previous adminstration did beta than the current one but na only this buhari regime nai people just dey think opposite of the mata because we don really suffer well well, but I think its rather too early to saying thing about this adminstration. But I also believe that goodluck tenure was also an extortion of Nigerian funds from different angles.

My brother you can't compare Goodluck tenure to Buhari regime. Buhari came suffer us. And im success. This new administration might be better of. The way things are handle right now . It might be favourable to the citizens. We still pray that the cost of living should be reduced to bearish minimum level for the poor in the country.

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[Mr.suevie]

Dat act wey di former president signed, I no sure sae dis present president go even use am. Tinubu na progressivist so anything wey no resemble im, im no dey use am. If Nigerian government won dey tax cryptocurrency den let dem convert E-naira to exchange platforms so dat piple go visit am well well. Den dem fit collect their tax from there. Nigeria just need good working Economics team wey go make things very good for di country.

Di best ecoonomics team wey e don come to this country nai be Goodluck time. Omen that team was very good.

I don't know why the sequence tend to trend in  every Nigerian mindset which is that the previous adminstration did beta than the current one but na only this buhari regime nai people just dey think opposite of the mata because we don really suffer well well, but I think its rather too early to saying thing about this adminstration. But I also believe that goodluck tenure was also an extortion of Nigerian funds from different angles.

My brother you can't compare Goodluck tenure to Buhari regime. Buhari came suffer us. And im success. This new administration might be better of. The way things are handle right now . It might be favourable to the citizens. We still pray that the cost of living should be reduced to bearish minimum level for the poor in the country.

Okay I agree that buhari really suffered us but that doesn't mean that this tenure is actually better off after all they are still from the same secret cult @same party and same carcus. But in we Nigerian are all just expecting some kind of good news about the administration that why people are being optimistic about it at this early stage and if I could remember vividly its same Nigerian that castigated the present President since from his days of campaign.

[Kelward]

For di question of weda di government go tax individuals or di exchanges, tax na tax, even if dem no tax individuals wey de trade with cryptocurrencies, wen dem tax di exchanges di exchanges go collect am as higher fees from di individuals or as value added tax. E just be like say you go buy something for store, dem don already comot di tax of di product before you buy am. Personally I for no mind di taxation, evendo say e de bite for body, but you go get rest of mind say you no get problems with di authority. Hopefully as I don mention for another topic, CBN go see di light and comot dat ban on bitcoin, wey de give better tin bad name. Tax in itself no bad, so far wayo no de am

[Nwada001]

This is what they could have considered a long time ago: taxing the crypto exchanges and projects in which Nigerians are partners, or will I say Nigeria is allowed to use their service just as other developed countries are doing, rather than asking banks to restrict themselves from involving themselves in crypto-related transactions? This could have really been a way of raising funds for the federation.

I don't know how effective the taxes will be because this country always has ways of invading things, so tax evasion won't be hard. Let them just pass the bill into law, and their purpose should be defined. Let them know how to task individuals and how to tax exchanges and other big crypto-related platforms.

Individually, those who know their way around might find ways of avoiding those tax payments, especially when the amount involved is not worth it, but those exchanges won't, no matter how little they will still have to drop something at the end of the year.

[Macoach]

People who assert that cryptocurrency cannot be stopped actually have no concept how simple it would be for governments to do so. Any equivalent measures enacted in the US or even throughout Europe would immediately throw us back ten years.

If there is anything we need to concentrate on, it is preventing politicians from using cryptocurrency as a toy to exploit and control as they choose rather than adoption at breakneck pace.

Never forget that the government is a criminal organization. The fact that trust in government is at its lowest point in decades makes me happy.