Quote from: AndySt on March 18, 2021, 11:11:20 PM

Quote from: LUCKMCFLY on March 14, 2021, 01:12:04 AM

We do not know if the Nigerian government actually has cryptocurrencies and bitcoin, perhaps it disqualifies Bitcoin because it does not want its people to emerge towards a totally deflationary economy and achieve their financial freedom, in every government it is convenient for them to have total and absolute control of each economic movement, if cryptocurrencies enter they will see it as money laundering, then it is not appropriate and if a country that has inflation problems is unsustainable, I see it from that point of view, perhaps it is wrong, but it is simply a assumption that it can be real, and that is why it disqualifies it, the more ignorance it is sown, for them the better.

I think that the main role here is played by concerns about the impact of bitcoin on the monetary policy of the state through the central bank. The financial authorities of the vast majority of countries in the world have already formed effective tools for monetary policy over the years, and therefore are very wary of new things like bitcoin. Therefore, some confidence on the part of such structures will be present, but the most important thing is that this does not lead to prohibitive measures.

The Central Bank of Nigeria believes the recent ban on digital currencies was in the best interest of the public. Speaking during a recent Senate hearing, the CBN governor Godwin Emefiele further claimed that digital currencies are not legitimate money.CBN issued a circular two weeks ago that prohibited all banks from processing digital currency-related transactions. In its circular, it ordered banks to identify individuals and firms dealing in digital currencies and shut down their accounts.