Post
Topic
Board Bitcoin Discussion
Re: Bitcoin can be banned or stopped by governments
by
AmoreJaz
on 03/01/2023, 23:29:23 UTC
In other countries such as Nigeria, crypto also appears to be illegal.

This is a wrong conception that cryptocurrency is illegal in Nigerian, make your research very well, nobody ban cryptocurrency in Nigeria it was a false information that Bitcoin is been ban in Nigeria, the vice president said cryptocurrency can be regulated but not ban in Nigeria, so therefore bitcoin is not ban rather it's been allowed to operate but not really a legal tender in the country of Nigerian.

most countries have no regulations when it come to crypto because for them it is new technology and it would require time for them to understand and implement protocols on this technology.
also, there are several crypto-exchanges operating in nigera, so if the govt banned any crypto-related business, these exchanges won't operate.
right now, for countries who don't have clear taxation rules and other protocols, better enjoy it. because in time, even small crypto owners may need to submit their crypto assets and incur tax on it.