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Scraped on 01/07/2025, 21:11:36 UTC
Hello friends, do you think Nigerian banks and other related bodies will ever consider categorizing Cryptocurrency as an asset that will make people eligible for loans? I read online that that is a move been considered already by countries like the United States.


https://www.investopedia.com/federal-regulator-opens-doors-to-crypto-in-mortgage-applications-11761381
You cant be comparing the United states of America with this country because the gap between technology and development is huge to begin with. The United states of America can do so with a signature from the president because so far he has been championed the cause and there is even a cryptocurrency reserve bank that ensures that cryptocurrency is there to stay and be readily employed in usage as deemed fit by the current administration.
 This country on the other hand may have to trust that the p2p system which is currently what has helped many people believe in crypto currency, doesn't ever fail or that bitcoin which is cryptocurrencies number one, doesn't just crash in price by morning, or at least not soonest.
Also, the government may have to accept it as a legal tender forbefore commercial banks and other fintech banks are allowed to do so openly withwithout incurring the wrath of the powers that be.
Original archived Re: Will cryptocurrency ever be considered an asset for loans in Nigeria?
Scraped on 01/07/2025, 21:06:48 UTC
Hello friends, do you think Nigerian banks and other related bodies will ever consider categorizing Cryptocurrency as an asset that will make people eligible for loans? I read online that that is a move been considered already by countries like the United States.


https://www.investopedia.com/federal-regulator-opens-doors-to-crypto-in-mortgage-applications-11761381
You cant be comparing the United states of America with this country because the gap between technology and development is huge to begin with. The United states of America can do so with a signature from the president because so far he has been championed the cause and there is even a cryptocurrency reserve bank that ensures that cryptocurrency is there to stay and be readily employed in usage as deemed fit by the current administration.
 This country on the other hand may have to trust that the p2p system which is currently what has helped many people believe in crypto currency, doesn't ever fail or that bitcoin which is cryptocurrencies number one, doesn't just crash in price by morning, or at least not soonest.
Also, the government may have to accept it as a legal tender for banks and other fintech banks are allowed to do so openly with incurring the wrath of the powers that be.