Topic: Government demanding from Binance the lists of its Nigerian users - page 7. (Read 1474 times)

I can’t wait to see how this matter will turn out to be. Is it binance that is the cause of Nigeria economy downfall?
Or the government trying to leverage on them for the citizens to think they’re on top of the matter with top gear? Whatever the matter is, we shall wait to see the end of this drama.

 At some point, if the binance is actually the problem causing the economy hardship to the country which the government claimed that the exchange is used by Nigerians to set their foreign exchange rates by themselves thereby disrupting the effort made by the government to make the economy stable for its citizens, they should clamp on them.

If dollar is the issue, can’t we take the dollar away and not make use of it as our primary currency for foreign exchanges? Is it that hard to do. Other countries that don’t use them are doing fine. Do our leaders even know the cause of the problem we are facing in the country now at all? If the Naira doesn’t appreciate against dollar in some weeks time, that is when they will know that it isn’t the p2p operators on binance that are the main problem to the economy but bigger players than that are the ones making it hard for the economy to thrive.

Will disclosing the identities of Nigerians using binance make the economy stable? If Yes, let them do it and see the government officials that are also holding cryptocurrencies in their wallets, as long as we have not involved in anything illegal while using it.

Already when the ban placed on cryptocurrency was lifted I saw it as a strategy that the government want to use to fish out people who are into cryptocurrencies in the country and this clampdown on binance and arresting binance officials is not the best way to fight naira depreciation but however, this is the more reason why we have always been advised not to store our coins in exchanges because of developments of this nature or the exchange being hacked by some unfortunate hackers.

I think with this recent development on binance by the Nigerian government would make a lot of individuals in the country who have been storing their coins in an exchange to make a u-turn and start making use of non-custodial wallets like electrum and others for the safety and security of their assets.

 If you know you are going to begin snooping into the affairs of Binance, why give them the go ahead to operate here? It's attitude like this that makes us believe that our government have run-out of ideas to push the country forward and are looking for various means to shift the blame because why will you ask for the personal details of the users if not for you to be monitoring the accounts to at least maintain a semblance of control? Naija no go ever change no be lie because we get other things wey dey bother us but we govt choose to enter Binance like say that nai be the real cause of the hardship.
 

This is what I strongly believe, we will always find a way.

This is frustrating because it affects both we the users and the binance exchange it selfs, the government are not helping this our economy with their so called regime. Crypto is not in any way spoiling our economy but the government are the ones making sure to frustrating crypto users. However for those that doesn't find it difficult to sell their coins on binance I think there is another method you can use to sell your coins ASAP, but before you sell your coins you must first of all swap your BTC to USDT and send it through fiat.

It is not appropriate at all is all I think about it. They flew to the country immediately Nigeria Binance users were blocked to access the exchange on the web. They flew to Nigeria it discuss with the government and regulators. But what they could do to them is to detain them.

Even if all centralized exchanges are banned, people will move to decentralized exchanges.

Yes. But we all know that ones your personal identities are submitted on exchanges, no privacy. This is one of the disadvantages of using centralized exchanges.

Is this even a legal move of our government or they're just trying to bully binance? With the news of their P2P already down on binance, it has already sent many users out of the platform and by the close of today many more people would leave binance and move to other exchanges where they can still trade their Bitcoin for naira.

If Binance bends to the government and submit a list of its users, it will further reduce the trust that other people in other countries who use their services have for the company. They will loose many customers.

It's now obvious that our leaders want to use their hand to cripple our economy. Why the so much interest in crypto? They've not thought on ways to focus on dependence on our  locally manufactured goods or look for how to get Thier refinary working again so we don't have to be exporting our crude in exchange for petrol and they think looking for all the binance users will be the best solution to the current economic hardship?

The only reason why they are doing all these is just to make the gullible minds to believe that the problem and major reason behind the current economic hardship is from these trading platform.

If we even compare the amount of transaction that goes on binance to the amount of money used in importation and exportation of crude oil and petrol, which should be our concern? Because they are not directly benefitting from binance users they want to threaten them, why haven't they thought of looking for all those depending on imported product or make it compulsory that everyone must consume locally manufactured goods?

Make them de play.

FG detains two Binance executives –Report

Two senior executives of Binance were allegedly to have been detained by the federal government. The executive officers flew to Nigeria after Binance website was taken down by the NCC in a way Nigeria can not be able to access the website. Although, the site is still accessible through the mobile app.

The federal government are demanding to see a list of Binance Nigerian users since the exchange inception, a person familiar with the matter said.