When Govt speaks of crypto/bitcoin aiding criminal activity what is your take?

[Amphenomenon]

We are well aware about how the government attacked CEX notably Binance last year speaking against them as aiding terrorism and I will continue to remain on my stans that all that happened for them to earn some huge about of fine, thinking they had them in a spot were they had no choice than to pat but rather, they discontinued their service with our fiat naira.

I'm bringing this back, only to bring awareness that neither Cryptocurreny nor bitcoin has being the major aid of fraud and terrorism in Nigeria but rather our naira and other fiat currency used by these fraudsters. This is just a way of the government to shift blame/responsibility, whereas their money laundering are very much done with the naira and other fiat because those things cannot be traced to them easily since they are on paper offline.

One easy proof you can use to back up this when  enlightening others about this, was a trending video during the naira note scarcity and there would be more:

A notorious terrorist leader identified as Kachalla Baleri, has been seen in a viral video displaying wads of new Naira notes amid a scarcity.

In an unverified video released on Twitter by @Edrees4P on Wednesday, February 1, the terrorist, who spoke in the Hausa language, claimed that he had up to N10 million of the new naira notes to buy more weapons.

[Charles-Tim]

The last time I remembered government called bitcoin and other crypto to be used for terrorism and money laundering is the time of Emefiele when he was the CBN governor. He did not attack crypto exchanges but attacked bitcoin and other crypto directly with badmouthing at the time.

The present day government only wanted naira to be more stable and try to use crypto exchange to lie about what is causing naira not to be stable. Also if they said Binance helped in money laundering or terrorism financing, that is different from bitcoin and other crypto because Binance is an exchange while cryptocurrencies are coins. Binance was sued by the United States of allegations similar to this and the exchange was fined. CZ which was the Binance founder was also fined and went to 4 months in prison.

I'm bringing this back, only to bring awareness that neither Cryptocurreny nor bitcoin has being the major aid of fraud and terrorism in Nigeria but rather our naira and other fiat currency used by these fraudsters.

This is true as far this is about Nigeria.

[Fiatless]

We are well aware about how the government attacked CEX notably Binance last year speaking against them as aiding terrorism and I will continue to remain on my stans that all that happened for them to earn some huge about of fine, thinking they had them in a spot were they had no choice than to pat but rather, they discontinued their service with our fiat naira.

I'm bringing this back, only to bring awareness that neither Cryptocurreny nor bitcoin has being the major aid of fraud and terrorism in Nigeria but rather our naira and other fiat currency used by these fraudsters. This is just a way of the government to shift blame/responsibility, whereas their money laundering are very much done with the naira and other fiat because those things cannot be traced to them easily since they are on paper offline.

Some of the things our government implement are copied from the Western World. I am assuming that the government of Nigeria's claims that cryptocurrencies are used for money laundering and terrorist financing cannot be proven. The government has never brought any evidence to back this claims. If I can remember the Nigerian government attacked Binance immediately after the US government sanctioned the exchange. Maybe the FGN wants to financially exploit the exchange after the US government fined them.

One easy proof you can use to back up this when  enlightening others about this, was a trending video during the naira note scarcity and there would be more:

A notorious terrorist leader identified as Kachalla Baleri, has been seen in a viral video displaying wads of new Naira notes amid a scarcity.

In an unverified video released on Twitter by @Edrees4P on Wednesday, February 1, the terrorist, who spoke in the Hausa language, claimed that he had up to N10 million of the new naira notes to buy more weapons.

Regarding the public display for cash by a terrorist in social media. We are all aware that these terrorist have connections government that finance thier activities using cash. The also have access to cash through ransom from kidnaping. Fiat is the easiest and safest means of financing criminal activities that it why these criminals hardly request for crypto as ransom payments..

[Spaceman1000$]

Most of the guys that are running this government offices are obsolete in their thinking, they are so resistant to new technology and are not also ready to learn. When boko Haram started destroying some northern states, was it crypto that they were using, the bandit on tiktok sharing money and doing live videos showing money, was it crypto that they were using. There are cases of ex governors, senators and a whole lot of government officials that have stolen public funds running into billions of dollars right from 1999 till date, some even have known cases with EFCC, was it crypto that they were using.

Most times when the government of Nigeria speaks about cryptocurrency, you will see that they are speaking from an ignorant point of view of how crypto works, so in most cases they just give crypto a bad name so they could go ahead with some of these their sanctions.

[Callido]

Those in government offices don't see it as privilege, wetin dey there mind na opportunity dey don get to steal money with no body questioning them, who fraud pass reach this our government, in fact na even banks they help them cordinate how the money go flow coz i feel like when wetin you dey get no match your source of income e suppose dey questionable then how come be say our Naija governments no dey questioned.

If terms na for cryptocurrency to end for the country and government to make money out of am, na drama dey go just act so that crypto go close make dem get the deal on, na fake love dem dey show cryptocurrencies and crypto users na for us all to dey careful.

[promise444c5]

Government donot like what they can't control, is same with other countries especially those in the EU, not only them most countries don't just like it  .
Anything that can be use in place of currency will definitely be used for ilegal stuffs like terrrorism , Bitcoin can e en be traced easily but people can still find a way around it.. so I'm tired when a government comes out to make all these shitty  claims despite knowing the biggest fund of all these stuffs ...

[Cossyblack]

Nigeria govt are only interested in what will be putting money in their pockets on a daily. They have been looking for  ways to regulate Bitcoin,so that they can manipulate it to their own satisfaction. The truth is that,Bitcoin cannot be regulated by any government whatsoever and our Nigerian government dislike what they cannot control. The only option they have is to link the use of Bitcoin to terrorism and money laundering. We all know these are fabricated words, brought up to reduce the good essence of Bitcoin in Nigeria. Despite all their efforts to stop the wide spread and adoption of Bitcoin in the country, Nigeria youths have continued to embrace in Bitcoin.

[Stable090]

I'm bringing this back, only to bring awareness that neither Cryptocurreny nor bitcoin has being the major aid of fraud and terrorism in Nigeria but rather our naira and other fiat currency used by these fraudsters. This is just a way of the government to shift blame/responsibility, whereas their money laundering are very much done with the naira and other fiat because those things cannot be traced to them easily since they are on paper offline.

If government of other countries Dey complain say bitcoin Dey aid crime for their country, then I no get problem with that, people fit Dey use bitcoin run illegal transactions for that side, but make our own government no even try talk that kin thing, because with the level of insecurity wey Dey dis country now, I never hear say dem kidnap anybody, and d kidnappers wey move dem Dey request for payment in bitcoin or other cryptocurrency.

We know say all d kidnapping or other illegal things wey Dey happen for dis country na fiat currency dem Dey use, and Dey no Dey use bitcoin, most people wey Dey even involve themselves in all those illegal activities for dis country self no sabi about bitcoin, so how dem wan take use Wetin dem no sabi? Our current president no even Dey against bitcoin, but maybe d next one wey go come fit no like bitcoin, but make dem no use it’s use by criminals as an excuse.

[Moreno233]

Bitcoin actually make some criminal activities easier and difficult to catch criminals but it is not the only thing that can be used to achieve that. Before the creation. Of Bitcoin, criminals still use other payment system to run their things so it is wrong to make it look like crime started the same day Bitcoin was created. Criminals will always find ways to do their evil even. The emphasis on Bitcoin being used by crimes is not actually a good thing.

[CryptoHeadlineNews]

It is obviously a laughable matter for a government to have made such claim about Bitcoin/crypto been a major funding source or medium for terrorists activities happening across our country. And another funny incident that happened that period was seeing members of the  Securities and Exchange Commission (SEC) laying claims on Binance and arrested members of bureau de change for alleged crime of devaluing the value of Naira, which we all knew were all a product of bad policies by this administration did. But yet, they went about making false allegations about Bitcoin, simply because they wanted to discourage people from not moving their money from banks to crypto, where they literally has no control over it. Hence, they chose to apportioned blame on crypto, claiming crypto was been used for funding terrorism, whereas, fiat we're their most common medium.

[Africolo]

Bitcoin actually make some criminal activities easier and difficult to catch criminals but it is not the only thing that can be used to achieve that. Before the creation. Of Bitcoin, criminals still use other payment system to run their things so it is wrong to make it look like crime started the same day Bitcoin was created. Criminals will always find ways to do their evil even. The emphasis on Bitcoin being used by crimes is not actually a good thing.

What's our purpose in this world? We're here to ensure we reap every possible angle of making profits for ourselves but in the process, we should be extremely careful. Bitcoin is general and accessible for everyone that understands crypto fully. We know how these things works and clearly understand the basic necessities involved. Scammers nowadays make good use of bitcoin in their scamming trends when they face victims. They know how to operate and their methods of scamming is highly classified.

[Tonimez]

We are well aware about how the government attacked CEX notably Binance last year speaking against them as aiding terrorism and I will continue to remain on my stans that all that happened for them to earn some huge about of fine, thinking they had them in a spot were they had no choice than to pat but rather, they discontinued their service with our fiat naira.

I'm bringing this back, only to bring awareness that neither Cryptocurreny nor bitcoin has being the major aid of fraud and terrorism in Nigeria but rather our naira and other fiat currency used by these fraudsters. This is just a way of the government to shift blame/responsibility, whereas their money laundering are very much done with the naira and other fiat because those things cannot be traced to them easily since they are on paper offline.

One easy proof you can use to back up this when  enlightening others about this, was a trending video during the naira note scarcity and there would be more:

A notorious terrorist leader identified as Kachalla Baleri, has been seen in a viral video displaying wads of new Naira notes amid a scarcity.

In an unverified video released on Twitter by @Edrees4P on Wednesday, February 1, the terrorist, who spoke in the Hausa language, claimed that he had up to N10 million of the new naira notes to buy more weapons.

Anyone who can be scammed in cryptocurrency can also be scammed in fiat currencies like Naira. Most times, greed is the reason for every scam. I have been involved in various chats which could possibly lead to scamming me of my coins, but I have always been very careful in the sense that, you have to monitor who you are transacting with. The right thing is, receive your fiat money first and confirm before releasing your asset. Those scammers would always want to compel you to send them your coins before they make their payments.

Also be sure that they sent the right amount before transferring your assets. Someone may send you #2,400 instead of #24,000. If you don't examine it well, you would send the coin before you will realise you have been short paid. Be smart always and suspect every transaction you do with who you don't know.

[knowngunman]

Bitcoin actually make some criminal activities easier and difficult to catch criminals but it is not the only thing that can be used to achieve that. Before the creation. Of Bitcoin, criminals still use other payment system to run their things so it is wrong to make it look like crime started the same day Bitcoin was created. Criminals will always find ways to do their evil even. The emphasis on Bitcoin being used by crimes is not actually a good thing.

Wetin Dey pain me pass with all dis people wey Dey talk say dem Dey use bitcoin run illegal activities nah him be say before bitcoin was created, which currency criminals Dey use that time? Anything wey d government Dey claim say dem Dey use bitcoin do, we should know that no be only bitcoin dem Dey use do am, and for dis our country, na still naira na him criminals still Dey use mostly, so Dey no even get any reason to go against bitcoin.

If dem talk say bitcoin is used for illegal activities, dem e Dey normal now, na currency we call am, and as long as dem Dey use am run transactions, dem we suppose know say criminals go use am.

If we Dey talk say bitcoin Dey difficult to trace if scammers use am, why be say fiat currency wey no Dey difficult to trace, scammers still Dey use am, and d police no dey arrest those people. Make we use bandits as example, na naira dem Dey collect as random after kidnapping people, dem go use phone number call family of the hostage, but Dey no Dey fit arrest those people.

[Orange89]

The last time I remembered government called bitcoin and other crypto to be used for terrorism and money laundering is the time of Emefiele when he was the CBN governor. He did not attack crypto exchanges but attacked bitcoin and other crypto directly with badmouthing at the time.

The present day government only wanted naira to be more stable and try to use crypto exchange to lie about what is causing naira not to be stable. Also if they said Binance helped in money laundering or terrorism financing, that is different from bitcoin and other crypto because Binance is an exchange while cryptocurrencies are coins. Binance was sued by the United States of allegations similar to this and the exchange was fined. CZ which was the Binance founder was also fined and went to 4 months in prison.

I'm bringing this back, only to bring awareness that neither Cryptocurreny nor bitcoin has being the major aid of fraud and terrorism in Nigeria but rather our naira and other fiat currency used by these fraudsters.

This is true as far this is about Nigeria.

WAit I really think the government's claims about Bitcoin aiding the criminal activity are often exagerEted.
Recently we had seen the Pakisthan Talk about Legalizing the use of Crypto

My view is that while we all know the cryptocurrencies can be used for illicit purpose definately but the same can be said for fiat currencies Why Not?? 

like the recent Naira and The new recent viral video of a terrorist leader that's displaying wads of new Naira notes show that traditional fiat currencies are still the primary medium for funding criminal activities in Nigeria

You know the government is definitely attempts to regulate and control for the Bitcoin seem more about maintain the financial dominance rather than genuinely address crime one of the truth is

That cryptocurrencies offer the transperency and trackability that's our fiat currency often lacking it behind making it harder for the criminal to operate undatected in the long run.

In my opinion the government should focus with on  address the root causes of the crime & corruption
Education and awareness about the benefits and risks of crypto can go a long way in fosteer responsible usage

[Felicity_Tide]

This is just a way of the government to shift blame/responsibility, whereas their money laundering are very much done with the naira and other fiat because those things cannot be traced to them easily since they are on paper offline.

This is a very common habits that most government exhibit.
Knowing fully well that they've failed, they look for something that fits best, and lay the entire blame on it. I have watched so many videos too. And the surprising thing is, they are not just laundering the Nigerian currency, but they are doing the same thing with other currencies as well, which proves that their level of corruption is at it's peak.

A country that don't even have a standard regulatory price of items, I don't think these government even know anything about cryptocurrency.

What business do terrorists have with Cryptocurrency. Especially here in Nigeria, where the rate of illiteracy is something else, and so many of these terrorists barely speak English. We all should just know that the federal system is a joke. A sector that is not accounted is trying to make other areas accountable, what a joke.

[Roseline492]

Perhaps why binance could not agree to anything was that they were not getting the traffic they needed from Nigerians because a lot of Nigerians only uses naira deposits with even an amount that doesn't worth much in dollars, so actually the money they were making was not enough to consider anything unlike those other countries with dollars as there currency and bought a large quantity of Bitcoin. Government was wrong if they were seeing them as people who are aiding terrorists because they don't do that and besides everything is in our naira because we have not had any news about any terrorist in our country requesting for payment through Bitcoin because it has always been fiat.

[Jostern]

We are well aware about how the government attacked CEX notably Binance last year speaking against them as aiding terrorism and I will continue to remain on my stans that all that happened for them to earn some huge about of fine, thinking they had them in a spot were they had no choice than to pat but rather, they discontinued their service with our fiat naira.

I'm bringing this back, only to bring awareness that neither Cryptocurreny nor bitcoin has being the major aid of fraud and terrorism in Nigeria but rather our naira and other fiat currency used by these fraudsters. This is just a way of the government to shift blame/responsibility, whereas their money laundering are very much done with the naira and other fiat because those things cannot be traced to them easily since they are on paper offline.

One easy proof you can use to back up this when  enlightening others about this, was a trending video during the naira note scarcity and there would be more:

A notorious terrorist leader identified as Kachalla Baleri, has been seen in a viral video displaying wads of new Naira notes amid a scarcity.

In an unverified video released on Twitter by @Edrees4P on Wednesday, February 1, the terrorist, who spoke in the Hausa language, claimed that he had up to N10 million of the new naira notes to buy more weapons.

Well this government doesn't know what they are really talking about, they should try and ask themselves if Bitcoin have been harmful to humans or someone probably lost there money while investing in Bitcoin, I think if the government have a basic understanding of what Bitcoin is all then then they will not think such about Bitcoin, the government itself are the once responsible for embezzlement of National funds is it Bitcoin that aids them towards achieving that. I just think the Nigerian Government are ignorant of the truth.

[Hewlet]

If not for the insincerity of the government, sometimes, it would have been easier for us to really look into what they are saying to see wether or not there's an element of truth in it and then we can either look into accepting it or not.

The question is, is crypto aiding some criminal activity or not? The simple answer is an emphatic yee because sometimes, it does aid kidnapping because of the difficulty in tracing it. Another question then is, before crypto became a thing, how has the situation of things been security wise? Can we say that kidnapping hasn't been at the level or currently is now? The answer is an emphatic NO because even with the use of normal banks, kidnapers where still able to collect their ransom from people. What that then point at is that, crypto in isolation is not the cause of our insecurity. If the security architecture of our country was working well, we wouldn't be putting all blame on a system that's supposed to be of help to us.  Are we trying to say that those nations that have adopted crypto especially bitcoin don't know the possibility of it being used to carry out this kind of act?

[Callido]

Perhaps why binance could not agree to anything was that they were not getting the traffic they needed from Nigerians because a lot of Nigerians only uses naira deposits with even an amount that doesn't worth much in dollars, so actually the money they were making was not enough to consider anything unlike those other countries with dollars as there currency and bought a large quantity of Bitcoin. Government was wrong if they were seeing them as people who are aiding terrorists because they don't do that and besides everything is in our naira because we have not had any news about any terrorist in our country requesting for payment through Bitcoin because it has always been fiat.

Nigerians can't mark out large traffics in the sense that only the United States makes up 50% of users from Binance, other countries like India and Uk who are more crypto friendly should make up the other best part of users using the exchange, but considering that Nigerians are growing with crypto adoptions gives Binance a long benefits in the long run, they don't see it now but soon if they return they will understand how it benefits having Nigerians using their service. Not having P2P has kept users away from using their exchange, this would have been solved, but understanding is still far from both sides.

[Richbased]

We are well aware about how the government attacked CEX notably Binance last year speaking against them as aiding terrorism

I think this statement is wrong because the reason why the Federal Government clamped down on some centralized exchanges like Binance was as a result of regulations issues and also an accusation that they were the cause of Naira depreciation when the CEX's naira exchange rates was going higher as at that time, and that they also failed to register with First Inland Revenue Service for taxation so those where literally the charges of the Federal Government and not that cryptocurrency or bitcoin was aiding terrorism. I haven't even come across any statement by the Federal Government that bitcoin was used to aid terrorism but i think they only criticized bitcoin and called it a scam.