Post
Topic
Board Nigeria (Naija)
Re: Government demanding from Binance the lists of its Nigerian users
by
Charles-Tim
on 29/02/2024, 10:16:12 UTC
Is this even a legal move of our government or they're just trying to bully binance?
It is not appropriate at all is all I think about it. They flew to the country immediately Nigeria Binance users were blocked to access the exchange on the web to discuss with the government and regulators. But what they could do to them is to detain them.

With the news of their P2P already down on binance, it has already sent many users out of the platform and by the close of today many more people would leave binance and move to other exchanges where they can still trade their Bitcoin for naira.
Even if all centralized exchanges are banned, people will move to decentralized exchanges.

If Binance bends to the government and submit a list of its users, it will further reduce the trust that other people in other countries who use their services have for the company. They will loose many customers.
Yes. But we all know that ones your personal identities are submitted on exchanges, no privacy also. This is one of the disadvantages of using centralized exchanges.