IMF Warns Nigeria’s about Stablecoin

[Myleschetty]

If dont if this wasn't posted before, if it was, the mod should lock the topic.
Days ago, I saw a news report where the IMF made a surprising statement because Naija people dey adopted 60% of all stablecoin traffic in sub-Saharan Africa as a threat to the local fiat currency, which I personally believe nothing is wrong with it unless they are planning to place another ban on p2p trading on the Naija soil again.
After all, if dem government has a proper structure for dem moni there's reason for them to see the Naija wey dey try to survive and see stablecoin as a means to buy BTC or trade internationally as something that will weaken the local currency.

[Charles-Tim]

I noticed your first link has a link to the second link which is the official article about IMF stable coins usage in Nigeria that is 60% in the sub-sahara Africa. If that is it, we have discussed about it recently.

Nigeria accounts for 60% of stablecoin inflows in sub-Saharan Africa

Just lock the topic, and hope it will not get deleted. Most duplicate topics are deleted on this board. If you lock the thread yourself, it might be convincing.

[Cryptomultiplier]

You would not blame Nigerians for surviving using stablecoins since we have the Naira subject to constant inflation and unnecessary friction of devaluation that tends to stall business growth.

Using stablecoins may be a threat to the Naira because the government won't be able to control inflation, interest rates and the local economy, but this isn't what IMF wants, because using stablecoins won't weaken the country at large, but it would help protect the value of our money, mostly as some businesses has gone as far as receiving stablecoins instead of Naira for payments upon transactions completed.

The government can't ban the use of stablecoins or cryptocurrency but only try to monitor and regulate its affairs and as such it is acceptable for payments of taxes and remittances.

[Exitoral]

Someone already made a topic about this already.  That is it. Already. You should lock it just as Charles tim said.

https://bitcointalk.org/index.php?topic=5586055.0