Quote from: Gozie51 on July 02, 2023, 06:28:10 PM

This binance issue no suppose worry us too much, binance still dey operate for naija. The thing na just about wanting binance to identify with them. We sabi say our government na follow follow, so dem dey follow wetin dey happen for Canada, USA also. Na about regulation wey sec want to bring come because dem want to dey know about binance business for here. No cause for alarm for now.

I will agree. I do not think SEC even know that many international exchanges supposed to be paying tax. Or maybe they are working on regulatory policies.

Quote from: Adams0001 on July 02, 2023, 08:56:57 PM

But the exchanges and custodial wallets are using their customers activities on their platform to make money from their customers. Like those exchanges that Nigerians are using and the exchanges are not paying Nigeria government anything and the government are losing the money that the exchanges should be paying. Also people that are using the exchanges ought to be paying tax too.

They are just like banks, they supposed to be paying tax which would have been an additional source of revenue for our government.

Quote from: Coyster on July 02, 2023, 09:44:50 PM

I get wetin you dey talk oh, but if the Nigerian government wan dey chop money via crypto exchanges/tax on crypto, dem suppose review their policy on crypto for the country, remember say Nigerian government through the CBN ban banks from running transactions wey concern buying crypto from exchanges, that one mean say dem no too support crypto, thus if dem wan gain from crypto dem suppose make friendly policies towards it and set clear regulations (wey everybody go understand) about Crypto for the country.

SEC do not just know their work. They have shown incompetence in crypto related matters. SEC regulates both commodity and security markets in Nigeria. It is a shame that they do not know their work about bitcoin and other cryptocurrencies. Even if cryptocurrencies are banned by CBN, they supposed to work with lawmakers and regulate cryptocurrencies. If the lawmakers are educated to know what Nigerians are losing from crypto taxes, they will come up with crypto regulation. In this present time, financial bill included 10% capital gain tax.

Some people thought a lot of thing came from the president indirectly through the CBN governor, CBN perfectly studied about cryptocurrencies for years before the ban, they only saw EndSARs as an opportunity, not what is directly from the president. CBN can not stop buying and selling of bitcoin and other cryptocurrencies, CBN knew. They only want to discourage businesses, in favor of naira, it is not about EndSARs.

Another one was naira redesign. People thought that it was Buhari's initiative, but some governors did investigations and clearly stated by El Rufai that the CBN is the cause which we later knew about. Maybe correct or not, the CBN governor had nothing to say about it directly.