These are the countries that have declared cryptocurrencies as illegal

ALGERIA 2018

BOLIVIA 2014

EQUADOR 2014

BANGLADESH. 2012

NEPAL 2019

MACEDONIA. 2016

NIGERIA 2021

The question is; is this the kind of league of nations that Nigeria should belong?

They Did not banned instead they say its illegal in there country and not a legal tender!

valentineuwakwe:
They Did not banned instead they say its illegal in there country and not a legal tender!

All this one na story. The point is that, so far we can't directly trade Crypto without facing consequences, it's illegal, and indirectly/directly, that means it's banned whether you like it or not. All the one you're saying is English

This is a good move by the CBN, it's dangerous and counter productive for the general population to shift traditional banking, trading and investment system from the banking and regulatory structure to unregulated and counterproductive crypto currency system.

Money inflow and outflow through the banking system guarantees availability of funds for investments, loans and financing across the general population, but when you remove money from the banking system to a side person to person asset transaction, you are effective remove money and forex from market, you are no longer recycling money through the system to keep the economy going, you are denying funds for loans, business financing, housing mortgage and so on.

Rich and developed countries can afford to allow crypto in their countries, but Nigeria can not especially when Nigerians are now turning dollar remit from abroad into a person to person crypto deal.

Crypto is a valuable tool for money launderers, shady dark web dealings, drug trade, human trafficking transactions, terrorism funding and so on..

You can not keep complaining about the economy, lack of jobs and infrastructures while at the same time sabotaging the same economy with crypto.


You can not have it both ways, crypto is not good for us at the moment..

plaindealer:
This is a good move by the CBN, it's dangerous and counter productive for the general population to shift traditional banking, trading and investment system from the banking and regulatory structure to unregulated and counterproductive crypto currency system.

Money inflow and outflow through the banking system guarantees availability of funds for investments, loans and financing across the general population, but when you remove money from the banking system to a side person to person asset transaction, you are effective remove money and forex from market, you are no longer recycling money through the system to keep the economy going, you are denying funds for loans, business financing, housing mortgage and so on.


Rich and developed countries can afford to allow crypto in their countries, but Nigeria can not especially when Nigerians are not turning dollar remit from abroad into a person to person crypto deal.

You can not keep complaining about the economy, lack of jobs and infrastructures while at the same time sabotaging the same economy with crypto.


You can not have ot both ways, crypto is not goo for us at the moment..

Crypto is like the proverbial cockroaches that will survive a nuclear blast. Nigeria has one of the highest P2P rate in the world, so I expect the crypto populace, to fall back to P2P. The CBN is shooting itself on the foot and only helping to kill the Naira even further, but what do I know?

plaindealer:
This is a good move by the CBN, it's dangerous and counter productive for the general population to shift traditional banking, trading and investment system from the banking and regulatory structure to unregulated and counterproductive crypto currency system.

Money inflow and outflow through the banking system guarantees availability of funds for investments, loans and financing across the general population, but when you remove money from the banking system to a side person to person asset transaction, you are effective remove money and forex from market, you are no longer recycling money through the system to keep the economy going, you are denying funds for loans, business financing, housing mortgage and so on.


Rich and developed countries can afford to allow crypto in their countries, but Nigeria can not especially when Nigerians are not turning dollar remit from abroad into a person to person crypto deal.

You can not keep complaining about the economy, lack of jobs and infrastructures while at the same time sabotaging the same economy with crypto.


You can not have ot both ways, crypto is not goo for us at the moment..

Some of us have always known cryptocurrencies were created to kill off poorer/small countries..

How Nigerians are helping kill Nigeria through shift to crypto is amazing. It's just extreme greed.

Do they know the volume of USD Forex that escapes via cryptos.

I see China and russia banning it aswell real soon.

privaldo:


Crypto is like the proverbial cockroaches that will survive a nuclear blast. Nigeria has one of the highest P2P rate in the world, so I expect the crypto populace, to fall back to P2P. The CBN is shooting itself on the foot and only helping to kill the Naira even further, but what do I know?

You don't know anything... cryptos would kill Nigeria faster than a nuclear bomb.

It would ruin efforts on all your exports.

Esseite:


You don't know anything... cryptos would kill Nigeria faster than a nuclear bomb.

It would ruin efforts on all your exports.

Read again and comprehend. Don't rush to comment, I wasn't talking about Nigeria's death but that of cryptos in Nigeria. Also, it would be in your folly to imagine that I want Nigeria's survival.

Esseite:


Some of us have always known cryptocurrencies were created to kill off poorer/small countries..

How Nigerians are helping kill Nigeria through shift to crypto is amazing. It's just extreme greed.

Do they know the volume of USD Forex that escapes via cryptos.

I see China and russia banning it aswell real soon.

Conspiracy theorist, cryptos were created to avoid the unnecessary regulations of traditional regulatory authorities. Nobody wants to kill any poor/small country, stop shifting blames.

Nigerians are looking for how to survive, since the government has embarked on creating policies that are detrimental to the masses.

China has tried to ban crypto and failed, they have one of the largest P2P system in the world.

But these are not nice Countries going by their names

privaldo:


Conspiracy theorist, cryptos were created to avoid the unnecessary regulations of traditional regulatory authorities. Nobody wants to kill any poor/small country, stop shifting blames.

Nigerians are looking for how to survive, since the government has embarked on creating policies that are detrimental to the masses.

China has tried to ban crypto and failed, they have one of the largest P2P system in the world.

Nigerians are looking for how to survive by killing the Nigeria itself?... Nigeria is still battling China and mass volume of import which leads to massive escape of forex, now that is being treated by the massive loans from china. How do you balance the escape through cryptos?

cryptos were created to avoid the unnecessary regulations of traditional regulatory authorities.

why the avoidance of monetary policies of a nation that guard its international trade while creating balance?

Crypto currency is a death nail on import dominated countries.

privaldo:


Read again and comprehend. Don't rush to comment, I wasn't talking about Nigeria's death but that of cryptos in Nigeria. Also, it would be in your folly to imagine that I want Nigeria's survival.

Well, you have said it all at the bolded...

plaindealer:
This is a good move by the CBN, it's dangerous and counter productive for the general population to shift traditional banking, trading and investment system from the banking and regulatory structure to unregulated and counterproductive crypto currency system.

Money inflow and outflow through the banking system guarantees availability of funds for investments, loans and financing across the general population, but when you remove money from the banking system to a side person to person asset transaction, you are effective remove money and forex from market, you are no longer recycling money through the system to keep the economy going, you are denying funds for loans, business financing, housing mortgage and so on.

Rich and developed countries can afford to allow crypto in their countries, but Nigeria can not especially when Nigerians are now turning dollar remit from abroad into a person to person crypto deal.

Crypto is a valuable tool for money launderers, shady dark web dealings, drug trade, human trafficking transactions, terrorism funding and so on..

You can not keep complaining about the economy, lack of jobs and infrastructures while at the same time sabotaging the same economy with crypto.


You can not have ot both ways, crypto is not goo for us at the moment..

One of the dumbest thing, I have ever read today, Crypto currency killing Nigeria, let me tell you, the world is gonna go Crypto whether the Nigeria government likes it or not, the government better comes up with a strategy to survive during a Crypto dominated world, China tries banning Crypto in 2013 but it grew like wildfire today China is creating it's own government back Crypto.

When Inksnation starts their Merchandise program by May 12 and adopt their Pinkoin Crypto as their own asset, I will see if the FG will go ask business owners to stop accepting Pinkoin.

Well have removed all my money on Luno, the once on Roqqu is pending, I have up to $200 on Binance, whether the government likes it or not, they can't stop Crypto and can't force me to save money in the bank.

Wrong question, sir.

Question should be: why does Nigeria like to identify with and belong to an unambitious group of countries?

topydale:
The question is; is this the kind of league of nations that Nigeria should belong?

topydale:
These are the countries that have declared cryptocurrencies as illegal

ALGERIA 2018

BOLIVIA 2014

EQUADOR 2014

BANGLADESH. 2012

NEPAL 2019

MACEDONIA. 2016

NIGERIA 2021

Looking at this list, all you can see is poverty and backwardness, with underdeveloped ideas

topydale:
These are the countries that have declared cryptocurrencies as illegal

ALGERIA 2018

BOLIVIA 2014

EQUADOR 2014

BANGLADESH. 2012

NEPAL 2019

MACEDONIA. 2016

NIGERIA 2021

So Nigerian leaders found their place?

-180⁰ thinking people.

Ajanlekoko4:
But these are not nice Countries going by their names

yes na.. na the kind league u go see Nigeria. Terrorism,corruption,infant mortality,poverty leagues and more

The truth is the unstable price of the bitcoin would have big effect in our economy..

We are always known for the bad reasons. Let's see how far they can go with this anti-people policy.

plaindealer:
This is a good move by the CBN, it's dangerous and counter productive for the general population to shift traditional banking, trading and investment system from the banking and regulatory structure to unregulated and counterproductive crypto currency system.

Money inflow and outflow through the banking system guarantees availability of funds for investments, loans and financing across the general population, but when you remove money from the banking system to a side person to person asset transaction, you are effective remove money and forex from market, you are no longer recycling money through the system to keep the economy going, you are denying funds for loans, business financing, housing mortgage and so on.

Rich and developed countries can afford to allow crypto in their countries, but Nigeria can not especially when Nigerians are now turning dollar remit from abroad into a person to person crypto deal.

Crypto is a valuable tool for money launderers, shady dark web dealings, drug trade, human trafficking transactions, terrorism funding and so on..

You can not keep complaining about the economy, lack of jobs and infrastructures while at the same time sabotaging the same economy with crypto.


You can not have ot both ways, crypto is not goo for us at the moment..

Your head get oil, you said it all. Nigeria economy will crumble if crypto sales boom more than now.

Permit me to also tell you that crimes like armed robbery will rise. Most yahoo boys will still want to fund their lavish lifestyles. After effects or consequences on Nigerians.

Who noticed, Apart from Algeria, other countries listed here were "Struggling Countries Association..."


Now that Nigeria has joined them, na scatter scatter e remain for this shithole..


#And it pained me say I be Nigerian.




Assuming one can choose his/her nationality before coming to this world, Am 100% sure I won't choose this Shithole.

Ignoramus country.. Banning banks have no effect whatever.. You just opened business for Bitcoin atm operators.. That's gonna be the new trend

Like in EU countries the govt discourages crypto then bitcoins atm grew..


They are surprised.. This isn't 1983 and most Nigerian youths don't depend on oil..



Also most banks and money transfer runs in the ripple block chain XMR..

its implemented in banks but not for Nigerians.. If people were loosing they wouldn't care.. The bull run from October on crypto took them by surprise..


The only problem here be say Aboki never understand bitcoin and can never hoard it like our naira..

Aboki dollar dey complain for bad business.. Dem come look into it see say na crypto men need..

Esseite:


Some of us have always known cryptocurrencies were created to kill off poorer/small countries..

How Nigerians are helping kill Nigeria through shift to crypto is amazing. It's just extreme greed.

Do they know the volume of USD Forex that escapes via cryptos.

I see China and russia banning it aswell real soon.

India recently banned crypto Currencies in their country but curiously enough, their Government promised to create their own crypto currency.

topydale:
These are the countries that have declared cryptocurrencies as illegal

ALGERIA 2018

BOLIVIA 2014

EQUADOR 2014

BANGLADESH. 2012

NEPAL 2019

MACEDONIA. 2016

NIGERIA 2021

NO UK
NO USA
NO CHINA
NO EU COUNTRY...

Olabode971:
Who noticed, Apart from Algeria, other countries listed here were "Struggling Countries Association..."


Now that Nigeria has joined them, na scatter scatter e remain for this shithole..


#And it pained me say I be Nigerian.




Assuming one can choose his/her nationality before coming to this world, Am 100% sure I won't choose this Shithole.

Why did God created you a Nigerian, did God make a mistake?

oyatz:


India recently banned crypto Currencies in their country but curiously enough, their Government promised to create their own crypto currency.

Banning?! Has it affected the crypto community in India or is it growing?

Has it affected the price of Btc?

It would only drive the prices higher..

If they create their crypto will it run on exchanges? Will it not be traded for other crypto?!


Cheers

Continue copying and pasting inexplicable trash.

plaindealer:
This is a good move by the CBN, it's dangerous and counter productive for the general population to shift traditional banking, trading and investment system from the banking and regulatory structure to unregulated and counterproductive crypto currency system.

Money inflow and outflow through the banking system guarantees availability of funds for investments, loans and financing across the general population, but when you remove money from the banking system to a side person to person asset transaction, you are effective remove money and forex from market, you are no longer recycling money through the system to keep the economy going, you are denying funds for loans, business financing, housing mortgage and so on.

Rich and developed countries can afford to allow crypto in their countries, but Nigeria can not especially when Nigerians are now turning dollar remit from abroad into a person to person crypto deal.

Crypto is a valuable tool for money launderers, shady dark web dealings, drug trade, human trafficking transactions, terrorism funding and so on..

You can not keep complaining about the economy, lack of jobs and infrastructures while at the same time sabotaging the same economy with crypto.


You can not have ot both ways, crypto is not goo for us at the moment..

I stand with bitcoin

Im assuming you guys are just going to use A VPN to do the trades anyway. I doubt most of you guys care about the CBN so push forward if you feel the risk is worth the reward.