Central bank of Nigeria is set to regulate cryptocurrency

[Magnus2022]

Central bank of Nigeria yesterday announced that they are about to regulate cryptocurrency in Nigeria. According to the news, they are still putting the framework in place. Financial analysts believe that the regulatory framework will be ready by mid-June.

 

[Stardom22]

That's quite a good move in African countries. I think Nigeria have seen some light and I think it would be among the few countries on the continent to realise and legalise crypto currency.

 

[Knowledge Quest]

I think it's great that the Central Bank of Nigeria is looking to regulate cryptocurrency. This will help to protect consumers from potential financial fraud and provide more transparency for the industry. It will also help to bring more legitimacy to the cryptocurrency market, which could help to attract more investors. It will be interesting to see how the regulation is implemented and how it affects the market. It could be a major step forward for the industry in Nigeria and beyond.

 

[Niyi Briggs]

What do they mean by regulate crypto currency? Is it to created a parallel market like they have done to the naira?

 

[flower]

The Central Bank of Nigeria has not made an attempt to make cryptocurrency legal again.

 

[uptrendfinancialsignal]

The Central Bank of Nigeria has never made an attempt to regulate cryptocurrency but they opted in for the ban option.

 

[Heatman]

Central bank of Nigeria yesterday announced that they are about to regulate cryptocurrency in Nigeria. According to the news, they are still putting the framework in place. Financial analysts believe that the regulatory framework will be ready by mid-June.

It is not only the Central Bank of Nigeria that wants to regulate the use of cryptocurrency, as it's the same thing all over the world which is why I believe is affecting cryptocurrency in a very negative way right now.

 

[Bisolami]

Central bank of Nigeria yesterday announced that they are about to regulate cryptocurrency in Nigeria. According to the news, they are still putting the framework in place. Financial analysts believe that the regulatory framework will be ready by mid-June.

That's an interesting news and it is not interesting because they will place their tax on it.

 

[Niyi Briggs]

The truth is that this our CBN is making us to go through lots of things. Their cashless policy has rendered many Nigerians suffering. They are doing this now when the world has already embraced cryptocurrency.

 

[eldavis]

One lesson i have learnt so far when it comes to the Nigerian government is that i do not believe anything they say until they actually do it. Lets watch and see how things goes.

 

[gammarays]

Regulating crypto will be a bad thing if we're to follow their precedents. Controlling it will give them power over citizens because anyone that controls your finance controls you which is bad.

 

[Reedex]

If the Central Bank of Nigeria had regulated cryptocurrency , it would have been better but it banned it.

 

[uptrendfinancialsignal]

It the Central Bank had regulated cryptocurrency, it would have been better but they ban it.