Topic: Social media account as KYC requirement? (2) - page 2. (Read 253 times)
it's insane why the Nigerian government will go to such lengths but i find it somehow okay if the data just belongs to their government. however, if they allow international exchanges who ask those KYC and social media accounts, then it's really going into something that they are not in control of their situation.
today it's just Nigeria doing this. maybe there will be no resistance but by doing this in Europe or America, people will refuse to agree on this.
Have you seen the recent development that the court has now backed the banks to demand customers submit their social media handles as part of their KYC requirements? What do you think of this?
And what do you think of this if crypto exchanges start demanding social media accounts as part of their KYC requirements?
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I guess we haven't seen it all, with the Nigerian government striving so hard to frustrate its citizens both with the economic policies and regulations that do nothing more than to help those at the top have more control over the poor masses. And what do you think of this if crypto exchanges start demanding social media accounts as part of their KYC requirements?
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Am not shocked with such news because I remember the former president upon banning Twitter operations in the country sometime back, brought up the idea to register and regulate social media activity in the country. Funny enough, it was after the Endsars protest and it was said that social media platforms helped paint the narrative and it was a medium used to perpetuate false propaganda.
If they insist on including social media handles for KYC verification, am sure there would be the case to add our BVN, NIMC, school certificates and qualifications, biometrics and much more just because we want to use social media platforms.
Well, I guess we would create new accounts with false information just to evade this policy and many users of cryptocurrencies would have to relocate or leave this country because it isn't cryptocurrency friendly and with the Naira having no value thus the hardship and failure of the government.
I honestly don't understand where the regulations that are emerging now in Nigeria is coming from. How does one's social media handle serve as a standard know -your- costumer policy, when we know how the rate of scams and hacks happen on social media.
What if someone's SM account get hacked and used for inappropriate behaviour in the social media does that mean the bank will have to restrict ones business initiatives with the banks as the justice of the Lagos high court said that the could use the social media handles as a mirror to know if a customer is due good enough to do business with.
I don't think this people really know the power of social media to want to link ones social media handle to legal issues that relates to the banks because some people can be brought down in a matter of days throughout social media if planned, because celebrities and influencers has more power in the social media works than a regular popular person.
Anyways our government has failed the people hence everything is been taken into consideration with out passing through the signatures of the house of assembly which is supposed to pass laws and regulations into bills.
What if someone's SM account get hacked and used for inappropriate behaviour in the social media does that mean the bank will have to restrict ones business initiatives with the banks as the justice of the Lagos high court said that the could use the social media handles as a mirror to know if a customer is due good enough to do business with.
I don't think this people really know the power of social media to want to link ones social media handle to legal issues that relates to the banks because some people can be brought down in a matter of days throughout social media if planned, because celebrities and influencers has more power in the social media works than a regular popular person.
Anyways our government has failed the people hence everything is been taken into consideration with out passing through the signatures of the house of assembly which is supposed to pass laws and regulations into bills.
Have you seen the recent development that the court has now backed the banks to demand customers submit their social media handles as part of their KYC requirements? What do you think of this?
And what do you think of this if crypto exchanges start demanding social media accounts as part of their KYC requirements?
source
And what do you think of this if crypto exchanges start demanding social media accounts as part of their KYC requirements?
source
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