Topic: Bitcoin Journey in Nigeria, what Next - page 2. (Read 270 times)

Well for starters I would like to clarify that there was no such case of arrest well not one that I know of, I think the CBN actually just closed all bank account that was tightly connected in transacting with crypto and I know this because my friend zenith bank account was aslo closed down and his was even carrying some significant amount of money on it but the money was retrieved though as he actually went to the bank for complaint, they simply ask him to provide another account of his bearing same name and the funds was directed to that other account with of his.

Well for now I don't think any updates have been implaced yet as the news is still sounding sudden to many Nigerian and also to the fact that many are aslo being skeptical about the whole issue for a start but I believe in due time we will all see updates and different outcome to the news concerning the uplifting of this ban.

If it's on the case of Nigeria actually making Bitcoin or any crypto a legal tender,  well I would call that a very wild dream and besides the technology to handle all this is not yet put in place but for now I think the only positive news will be the comeback of many crypto firm or organization that left due to the ban but even at that it will still take some time before the effects starts showing off.

I no dey aware of any arrest made based on the ban wey dem been place on cryptocurrencies, and Naija youths did not stage any agitation based on this matter. Crypto enthusiasts been no like the matter, but everybody just adjusted and started doing their transactions via p2p alone.
Cryptocurrency is not going to become a legal tender in Naija, i no think say our government get that one for mind, and to be fair that should be the least of our problems, and we get plenty (problems) for this country. The next thing wey i think say our government go do na to start taxation on crypto in Naija, but before dem go do am, dey will first set confirm framework for regulation.

I will prefer to use the word bitcoin and not cryptocurrency because bitcoin is the king of them all
 Bitcoin must not be a legal tender before it can be used as a payment method. The important thing is that bitcoin has been approved in the country for people to adopt. I wouldn't say that I would advise businesses to start accepting bitcoin now because of the high rate transaction fee.

What is needed is to let bitcoin grow gradually because in our country, the youths are always after new innovation so that they can take advantage of the opportunity attaches to it. What I mean is that some youths are already into bitcoin and they will tell their friends who is interested to learn just like forum members have being giving bitcoin awareness in their neighborhood. Bitcoin will speak for itself.

What we have to do as Bitcoin enthusiastic is to throw more light about cryptocurrency to the people that are totally misinformed about it, because uptill now, there are people in the country that knows nothing about cryptocurrency, they still sees it as ponzi scheme, so we just have to educate them more and show them the benefits attached to it, and always try to convince them to do there own research.
 Don't try to force it on anyone, so that you wouldn't be seen as a scammer.

Federal Government of Nigeria ordered the central bank of Nigeria CBN to ban all the cryptocurrency related services in the country in the year 2021 and this has been a discussion among the cryptocurrency enthusiasts though the banned didn't affect them that much because they were all using peer_to_peer(p2p) transaction system. It was restricted from using public service like bank and cryptocurrency related statement in the public space.
And based on the restriction, many were arrested because they violated the restriction law, police arrested some people across the country yet Nigerian youths were agitating and insisting to adopt bitcoin in the country and finally, the newly elected president Tinubu, in the month of November asked the newly appointed CBN governor to accept cryptocurrency in the country, and there was a mini jubilation in the cryptocurrency ecosystem world in the country.

Therefore, now that the long waited expectation has come, what is the next thing to do in the country concerning cryptocurrency. Cryptocurrency is not yet a legal tender in the country, so many businesses are still lagging behind, what's the next step now?