Tag: nigeria

Mar 22 2021

Nigeria Didn’t Ban Crypto: Official Clarifies on Earlier Order

Banks and other financial institutions are barred from serving crypto companies.

Mar 04 2021

Why Bitcoin Has Been So Successful In Nigeria

Mar 04 2021 Published at Bitcoin Magazine under tags  adoption culture nigeria

Bitcoin has offered many Nigerians a solution to fundamental economic challenges. The ban from the country’s central bank won’t change that.Back in 2017, the idea of Bitcoin in Nigeria was an interesting one that generally got the attention of two main categories of people: the early adopters with an interest in emerging technologies and the “hustlers” that are always on the lookout...

Crypto Scams are Going Rampant in Nigeria

Scammers are targeting people on Instagram, promising high returns on crypto investments.

Feb 25 2021

Nigerians Need Bitcoin, So Where Will The Restrictions Lead?

Feb 25 2021 Published at Bitcoin Magazine under tags  nigeria regulation

The massive rally in bitcoin prices has created a lot of buzz around cryptocurrencies lately, but Nigeria is one of the countries where bitcoin has been widely accepted for some time. The West African country has the highest bitcoin trading volume in Africa and recently ranked second globally of any country after the United States. According to...

Nigerians Need Bitcoin, So Where Will The Restrictions Lead?

Feb 25 2021 Published at Bitcoin Magazine under tags  business nigeria

Although their central bank is attempting to outlaw use of cryptocurrencies, it’s clear that Nigerians have real need for access to bitcoin.What Are Bitcoin Forks?The massive rally in bitcoin...

Feb 22 2021

Interview: Bitcoin In Nigeria With Ahyke Otutubuike

This episode of "Bitcoin In Asia" hosted Nigerian writer Ahyke Otutubuike to discuss the state of cryptocurrency in his home country....

Nigeria – The People Fight Back Against Central Bank Cryptocurrency Limitations

Feb 22 2021 Published at Bitcoinist.com under tags  cryptocurrency industry nigeria

Nigeria's central bank recently made headlines enforcing cryptocurrency restrictions on how the country’s banking sector works. Specifically, CBN reminded regulated financial institutions yesterday that a 2017 regulation prohibits them from facilitating cryptocurrency transactions or facilitating payments for exchanges. In a press release meant...

Feb 17 2021

Bitcoin Will Persist In Nigeria, But The Ban Changes Things

Feb 17 2021 Published at Bitcoin Magazine under tags  nigeria regulation

You have probably heard the news about the Central Bank of Nigeria (CBN) imposing a ban on financial services for cryptocurrency exchange operators, as well as the incongruent excuses for its action. You may have also heard of several...

Bitcoin Will Persist In Nigeria, But The Ban Changes Things

Feb 17 2021 Published at Bitcoin Magazine under tags  business nigeria

Cryptocurrency trades were central to Nigeria before an exchange ban reminder was recently issued. So, how will things change now?Bitcoin Optech was founded in 2018 to bridge the...

Feb 15 2021

How Nigerians Are Reacting To The Cryptocurrency Ban

Feb 15 2021 Published at Bitcoin Magazine under tags  nigeria regulation

The Central Bank of Nigeria (CBN) has said that its decision to ban cryptocurrency was necessary to prevent crimes and mitigate risksSeveral Nigerians have condemned the move and believe the ban has some political undertone beyond those stated reasoningsThe Senate of Nigeria has summoned the CBN governor to explain the decision to ban cryptocurrency. In a move that sparked outrage on...

How Nigerians Are Reacting To The Cryptocurrency Ban

Feb 15 2021 Published at Bitcoin Magazine under tags  business nigeria

A rule in Nigeria banning financial institutions from facilitating cryptocurrency activity has elicited a range of reactions from citizens.An agreement between financial services...

Feb 13 2021

wNews: The 5 Phases of Bitcoin

Feb 13 2021 Published at Crypto Briefing under tags  adoption amazon analysis apple nigeria

Bitcoin's busy week was punctuated by a unique discussion in the Nigerian senate. Nigeria's Bitcoin Problem Financial markets often seem to happen in just a few large metropolitan areas. The industry cites Wall Street or the City of London, for example, as global financial hubs. These references do sometimes extend to different parts...

Feb 12 2021

Nigeria’s SEC Puts Plans to Regulate Crypto on Hold in Light of Central Bank Ban

Nigeria’s Securities and Exchange Commission (SEC) announced Thursday it has put plans to regulate cryptocurrencies on hold.

Feb 11 2021

Nigeria’s Senate Summons Central Bank Chief to Explain Crypto Ban

The Nigerian Senate wants Central Bank Governor Godwin Emefiele and chief securities regulator Lamido Yuguda to testify about cryptocurrencies.

Acknowledging BTC Sovereignty, Nigeria Becomes Bellwether For Hyperbitcoinization

Today, the Senate of Nigeria —which has similar legislative powers to the U.S. Senate — shared notes from its daily proceedings. Among the presentations of bills and reports was discussion of a recent reminder from the Central Bank of Nigeria (CBN) that financial institutions are prohibited from facilitating any accounts transacting with cryptocurrency exchanges. During that discussion, a Nigerian official made a...

Feb 09 2021

Bitcoin ‘Can’t Be Stopped’: Nigerians Look to P2P Exchanges After Crypto Ban

Some Nigerians plan to continue using bitcoin (BTC) and other cryptocurrencies despite a directive issued by the Central Bank of Nigeria (CBN) last week ordering banks to close down accounts associated with cryptocurrencies.

State of Crypto: India and Nigeria’s Crypto Crackdowns Continue Old Trends

Both nations hope to prevent banks from providing services to crypto companies.

Binance-Backed DeFi Credit Union Platform Secures Partners, Funding Before Launch

Feb 09 2021 Published at CoinDesk under tags  africa business credit unions defi news

Xend Finance will allow credit unions and cooperatives to earn interest on deposits by converting them to stablecoins.

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