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.
These sorts of laws are a signal of a very weak and controlling government, which often indicates that the politicians themselves are screwing over their citizens at every opportunity with complete hypocrisy. Overseas banks don't like to hand over information to the Nigerian government necessarily, because it can be so petty and this is a prime example. Crypto has the opportunity to draw more money into the local economy, if it was just left alone, but instead the banking and currency exchange vultures throw their scraps to the politicians who in turn ban the competition against them. I imagine that lots of extra cash would flow in and be beneficial to the wider economy if this law was scrapped.
Do you really think banning of p2p can ever be possible especially in a country like Nigeria with low technological advancement? Nigeria is blessed with people with high talented IQs . These people can go to any length to escape any measure taken by the government to ban p2p.
They know that cryptocurrency transaction is not the real problem of Nigeria let me say they are just looking for excuses which are not really excuses i just see it as a form of hypocrisy and wickedness. The government don't even care about the wellbeing of their citizens. They know what they did to the dollar and naira but they are trying to deceive themselves.