Quote from: Maslate on February 13, 2021, 11:29:47 AM

Quote from: Webetcoins on February 12, 2021, 02:27:46 PM

But, now the Nigeria will no longer get the taxes and many people will lose jobs there which means increase in the rate unemployment. And a lot of traders will now go for P2P exchanges, like Binance P2P which means the government is getting nothing. This is totally stupidity.

I'm sure they have an answer to this that will make you think they did the right decision.

The government is making this decision because they have basis that they think crypto is a threat to their country, probably because they are not yet ready adopting it as their regulation is still weak. When crypto is allowed, there's also a risk on it if it's not properly monitor, government does not only focus on taxes, they also focus on safety of their people or the government.

Trust me, this are my Government an I can tell you with confidence that they don't have any meaningful answer to why they took that decision other than to just clamp down on the youths plus what happened during the #EndSars protest. If not for hate, there are a way earn from this crypto trading that the people are involved in. Think of it, after the blockage of crypto operating Bank Accounts, the Government is introducing ‘Naira 4 Dollar Scheme’ for diaspora remittances. This means the recipients get 5 Naira for every $1 received.

Then the government should have been able to check that all crypto withdraw back your your Fiat account can also be made in USD may be instead of local Fiat and this would have boost what ever it is they are trying to achieve with this ‘Naira 4 Dollar Scheme’ even without giving the 5 Naira and I believe all Nigeria crypto traders would have liked this, a win win situation.