I am so much concerned to why Nigerians government is banning the use of p2p on some crypto apps. To their allegations, it's said the crypto is affecting the currency and it also aids money laundry. Can anyone enlighten if what the government is doing is the right thing. The government left the banking sector and blames binance and other crypto companies.
When I first see this on Nairametrics, I wasn't move a bit because p2p didn't start today and wouldn't end tomorrow. We were doing p2p transactions right before the exchanges implementated it, even in this forum there were escrow here acting as the middle person to settle trade but centralized exchanges saw this opportunity as marketing strategies to draw customers by not charging any fees and it became so big as a multi billion dollars investment.
If the government decides to ban this, I think this will bring a rise in decentralized p2p where the government doesn't have anything to do with them, even this one they are threatening it's left for the centralized exchanges to agree with them or not but as long as the exchanges doesn't charge anything for those p2p transactions, the government has nothing on the them and beside, dollar to naira is now an open market which depend on the forces of demand and supply, I don't understand why the government is chasing shadows.