Quote from: CryptopreneurBrainboss on July 11, 2023, 09:48:57 PM

Quote from: Charles-Tim on July 07, 2023, 10:58:03 AM

We have people of wisdom in Nigeria, but why the process to do something correctly is hard in the country. Nigeria need to be fast on regulating cryptocurrencies. The suspended CBN president failed to see how Nigeria government will earn from regulating cryptocurrencies, how cryptocurrencies will increase Nigeria economic growth and development and how it will increase employment. Even without regulation, employment increased and many Nigerians depends on crypto job as of today.

Our problem for this country just circle round the former CBN governor, dat guy was a cancer in our economy. Nothing wey him do wey favor the economy of the country. Na only to dey put laws wey go take us backwards na wetin sabi. What's the need of taxing crypto when it isn't regulated in the county. Na only money mata wey we dey rush sign, we no go do the one wey go make the citizens survive and encourage more business and people to enter the cryptocurency market. E dey do me like say the government rush passed that taxation bills so dem fit dey suck all this crypto companies wey dey country dry.

Dem no go create a conducive environment for business to prosper with regulations yet dem wan dey tax dem. The taxation no be bad thing oh like e good say government dey take tax as na very good way for government to dey gather money way dem go use package the country but what about the regulations of the industry. To do business for this country na big wahala. As of now the taxation wasn't necessary or abi US dun passed their own taxation bill because this country sabi follow follow (maybe na why dem hurry go pass the bill). Anyway sha I just hope say as the taxation bill dey take effect e go make governments to begin reason regulating the industry.

Truth be told and I concur with what brainboss said because former CBN governor Godwin Emefele really bastardized the Nigeria economy for this space of 8/years because all his monetary policies have really dragged the country economy backwards because instead of him adopting and regulating cryptocurrencies even though decentralized coins like bitcoin can't be regulated unless for it services such as exchange and other crypto payment gateways, where the government could possibly generate income taxes, the central bank governor have done a lot of bad policy implementation and unless the current CBN governor make attempts to correct those anomalies and effect a new law.

Because of the actions of the CBN under Godwin Emefele, the financial system has witnessed a lot of bad policies which some of them already summer suited e.g the cashless policy that the CBN governor used to launder huge amounts and thereby subjecting Nigerians to undue suffering for months, anyways let us hope that the new CBN governor will make an adjustment to this and come off with a more crypto-friendly policy that will bring in a lot of opportunity to the citizens and having a positive impact on the economy in general.