Post
Topic
Board Bitcoin Discussion
Re: Interview with business owner who accept Bitcoin as payment method
by
SatoPrincess
on 07/05/2024, 22:21:45 UTC

Seriously about the tax I will say the business owner isn’t paying that on for either bitcoin or usdt. My reason been that he would definitely have to hide from the authorities that he accepts bitcoin as a payment option. The government is currently placing heavy restrictions on bitcoin and cryptocurrency at large at the moment in as much as I would love more people to accept it into their businesses I think it is way too risky for now. So for tax I am pretty sure he isn’t pay for that? Because if he does, he might currently be facing the law for using it as a payment option.
Bitcoin adoption in Nigeria has always survived the restrictions imposed by the government on cryptocurrency transactions. In the last couple of days, the government has placed strict regulations to prevent people from trading cryptocurrency. I would have to do a follow up interview in a month or so to know how businesses that accept bitcoin payments are coping with the new restrictions.