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Topic
Board Marketplace
Re: Nigeria continuous banning of crypto
by
Taskford
on 19/11/2021, 10:51:33 UTC
~ Now news are reaching me that the youth are getting detained and extorted by the police for having Binance app installed on their mobile phones.
They can't do that. If there's a solid proof, please share it here. AFAIK, it's only a banking ban that's imposed on crypto users. Possession of crypto is not like possession of an illegal drug that's why banks only freezes your account and ask for personal information. They are not even allowed to forfeit your balance.



I wonder what's the next step for Binane, Paxful, and other P2P platforms operating there. Having these planted agents will definitely decrease their user base.
Because of the ban imposed by CBN the daily transactions of Nigerians using P2P via binance had drop drastically infact thevnews article below said it all. But trust Nigerians they will always find a way out, crypto has come to stay I don't think there is any clamping down or banning from the government can stop crypto enthusiasts from using it, especially Nigerians whose teeming unemployed youths had fully embraced crypto trading as their main source.https://nairametrics.com/2021/11/15/nigerian-bitcoin-p2p-trading-weekly-volume-drop-for-by-43/ income.
Link:

Not surprising to see this happening to their citizen knowing that they are been restricted to use this and might they will be in big trouble if they oppose what government order to them. But hopefully their government will realize that they are doing a huge mistake for not adopting the huge innovation of technology. But maybe in future we can see them roll up on this industry and will not ban bitcoin in future.