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

[Mpamaegbu]

Government donot like what they can't control...

Na d honest truth be dat, nothing to add to am.

~snipped~

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...

Forget ApC govment. Na anything wey dem see dem dey hold hand to accuse people. So, afta all dat shey naira finally resurrected or e dey worse off. Even d Aboki FX wey dem run accuse, how far? Wetin me observe wit all dat accusations for Binance head be sey awa govment just copied the US as dem threatened and sanctioned Binance over tax, na so awa govment too rush enta Binance. But awa own case nor com too jell dat time as Binance begin show us strong head.

[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.

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.

I'm not sure that's true because only USA cannot have 50%  of the people that uses the exchange, there might be even more other countries that has higher than USA, so actually if we are going to predict there percentage on the binance it will only be 30% because the countries using that exchange is too many and besides how are we sure that is the only exchange the USA is using, though even if Nigeria does not have the traffic as some other countries do but they are contributing a lot on the exchange traffic even when they are only using it for trading and external transfers.

[Juicyhome]

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.

Where is the former CBN Governor today Emefiele? he is in Dss for  fraud, this show how empty our leaders are, he was using crypto as an excuse for his poor performance and fraudulent activities. He end up disgracing himself and paint Nigeria with bad image, imagine how binance and bitcoin users will view this country.  Crypto has nothing in terrorism and money laundering as he claimed, Banks too are into money laundering why did he not stop banks from operation, or the money he laundered was it in through  crypto he saved it?

we are in trouble as Nigerians, we have leaders that are analog, at a time where who is who in league of nations are embracing crypto and are passing bills for their crypto reserves, Nigeria with weak economy banned crypto. In years to come when it will be hard to buy that is when this rubbish  government will invest. But if USA pass a law on crypto Nigeria government will copy now that USA has passed their crypto reserve bill, Nigeria is left out.

[Charles-Tim]

Where is the former CBN Governor today Emefiele? he is in Dss for  fraud

Everything you posted is true but he was released on bail. You can read about it through the link below:

Emefiele gets N2bn bail in 753-unit estates suit
https://punchng.com/emefiele-gets-n2bn-bail-in-753-unit-estates-suit

That is the case he is battling with now.

This is where they are now:
$4.5bn fraud trial: Emefiele seeks forensic exam of WhatsApp evidence
https://punchng.com/4-5bn-fraud-trial-emefiele-seeks-forensic-exam-of-whatsapp-evidence

But he is not in custody, at least for now.