Quote from: Nathrixxx on September 22, 2021, 11:36:32 PM

Regulate cryptocurrency trading now to check high profile crimes, ICPC tells NASS

The fact that Nigerian youths are mostly into online businesses such as networking, Cryptocurrency, digital marketing and forex trading to mention few does not eqaute to doing Yahoo.

Secondly Cryptocurrency on its own is self regulated, we don't need govt hand in it, govt is yet to track down the perpetrators of insurgencies, kidnapping and corrupt politicians, this were known individuals who can be traceable but yet nothing done, our youth sort for an alternative means for survival despite the government neglegence to ameliorate bad to good yet they want to track, and take control of the crypto transactions, their own economy system regulated has nothing to show forth than depreciation and yet want to regulate Cryptocurrency. (Wrong conception).

Quote from: https://punchng.com/regulate-cryptocurrency-trading-now-to-check-high-profile-crime-icpc-tells-nass/?amp

The Independent Corrupt Practices and Other Related Offences Commission, has asked the National Assembly to come up with legislation that would regulate cryptocurrency trading to stop operators from using it to perpetrate heinous crimes.

Am yet to believe that crypto is now being used for ransom in Nigeria by kidnappers and bandits but if true, then crypto is taking over gradually. In Nigerian market, one item of commodity can be seen with different prices from various sellers, yet claimed regulated by the govt...Who controls the buying and selling price in the market, who authenticate my source of income and other respective buyers, if I buy a fake or substandard product who Is in charge, there are many fake, substandard, foggery and scams out there, isn't there govt whom we pay duly tax, commissions and who is charged with he responsibility of the so called regulations and policy implementation failed?

If they scamedd you of fake bank alert or ATM related fraud, does the regulated body sit to ensure your fund is refunded back.... Shame, they had better leave our sustaining crypto for us as it's more safer even than their own so called regulated old traditional Fiat system.

God bless our hustle!
Crown our efforts!
Provide for our daily bread!
In Nigeria, any online business is termed Yahoo Yahoo and scam. (Wrong mentality)

Quote from: https://punchng.com/regulate-cryptocurrency-trading-now-to-check-high-profile-crime-icpc-tells-nass/?amp

The anti-graft agency lamented that kidnappers, bandits now use the medium to carry out high profile crimes like money laundering and payment of ransom for kidnappers

“Corruption in digital assets are not easily traceable for instance if somebody steals billions of Naira and converts it quickly into cryptocurrency, it’s almost impossible to trace it.

The pinned local thread requested overshadowed this topic, I think it is worth to be discussed about.

Nigeria is not yet about to regulate cryptocurrencies, it was just a request that the national assembly should regulate cryptocurrencies. Cryptocurrencies also needs regulation, but experienced Bitcoin users can still make use of it in a noncustodial way, having privacy. But the government will want to regulate the custodial exchange ls and other services. Nigeria still have not plan for the regulation that SEC is even planning for. Only that the CBN banned bank-to-crypto transactions.

It is wrong that bitcoin or other cryptocurrencies are used for criminal activities like ransom in Nigeria, even Boko Haram demanded for fiat, bandits kidnapping kings are all demanding for fiat, kidnappers are also demanding for fiats. This is in accordance to what has been on the news, I have never read a news in which physical people that kidnapped requested for bitcoin or other crypto assets before, but we all know Nigerian organizations and leaders, they will not conduct more research bbut that to media false information in order to achieve their aim. At list, if their is any evidences of cryptocurrencies been used for ransom, their should be some news or links to defend this.