您现在的位置是:Nigerian Crypto Ban Is Nothing New, Says CBN >>正文
Nigerian Crypto Ban Is Nothing New, Says CBN
上海品茶网 - 夜上海最新论坛社区 - 上海千花论坛68人已围观
简介The CBN issued two letters over the weekend prohibiting banks from dealing in cryptocurrencies and c...
The CBN issued two letters over the weekend prohibiting banks from dealing in cryptocurrencies and clarifying that this rule had been in place since the start of 2017
On Friday, the Central Bank of Nigeria (CBN) issued a letter to the country’s financial institutions stating that “… dealing in crypto currencies or facilitating payments for cryptocurrency exchanges is prohibited.”
The letter also directed them to “… identify persons and/or entities transacting in or operating crypto currency exchanges within their systems and ensure that such accounts are closed immediately”, with a warning that failing to comply would result in severe regulatory sanctions.
Cryptocurrencies rose in popularity in Nigeria throughout 2020, fuelled by the pandemic and CBN’s devaluation of the naira. Young Nigerians in particular turned to digital currencies to protect their savings from extortion by the special anti-robbery squad (SARS), as well as to raise funds for protests.
In fact, Google trend data shows that Nigeria has been searching ‘bitcoin’ more than any other country over the past 12 months, and Quartz Africa revealed at the end of last year that Nigeria had become the second largest Bitcoin market by volume behind the US.
Following CBN’s directive, Binance Nigeria announced they were suspending naira deposits, resulting in a lot of backlash against CBN, with many suggesting the ban is a step backwards and will drive many Nigerians to cut out financial institutions entirely by turning to peer to peer exchanges instead.
After reactions to the Friday letter, CBN issued a second five page letter on Sunday justifying their position. The second letter clarified that the first letter did not constitute a change but was simply a reiteration of restrictions outlined in an earlier circular dated 12 January 2017.
CBN also claimed their position was not an outlier by listing 16 other countries that had restricted use of cryptocurrencies and suggesting they carry significant risks and are used for criminal activities such as money laundering and terrorism financing.
The letter goes on to detail various objections to cryptocurrencies from around the world, such as Warren Buffet’s labelling of them as “rat poison squared”, and Governor of the Bank of England, Andrew Bailey’s, concerns about their extreme price volatility.
CBN concluded by asserting that Nigeria will still be a leader in FinTech development by virtue of their payment system and initiatives including regulatory sandbox and open banking principles.
Tags:
转载:欢迎各位朋友分享到网络,但转载请说明文章出处“上海品茶网 - 夜上海最新论坛社区 - 上海千花论坛”。http://www.jz08.com.cn/news/49488.html
相关文章
Celestia's Mainnet set to launch with TIA Airdrop and exchange listings
Nigerian Crypto Ban Is Nothing New, Says CBNCelestia’s mainnet launches on October 31, with several exchange listings.A 60 million TIA tok...
阅读更多
Crypto.com offers Aston Martin F1 merch pack ahead of Mexico GP
Nigerian Crypto Ban Is Nothing New, Says CBNCrypto exchange Crypto.com is giving away an Aston Martin F1 merchandise package to celebrate its pa...
阅读更多
ChainLink price recovers above $13.60 but bulls face uphill task near $15.00
Nigerian Crypto Ban Is Nothing New, Says CBNChainLink (LINK) price has rebounded to highs of $13.87 after trading as low as $13.08, with bulls t...
阅读更多
热门文章
- Iran Dedicates Three Power Plants To Bitcoin Miners
- New Memecoin Crypto Has Minted Millionaires: Is Memeinator Next?
- The Crypto Sector Is Yet To See The Best Of Ethereum
- MetaWin Unveils 'MetaWin Millionaire': A Revolutionary $1 Million Cryptocurrency Giveaway
- Bitcoin's Weekly RSI Suggests Another Upside
- Voyager Token (VGX) soars after a 30% token supply burn
最新文章
SpaceX Falcon 9 launches Northrop Grumman's Cygnus cargo ship to ISS
Crypto Markets Performing Favourably Compared To Gold
Square Crypto pushing for wider Bitcoin adoption
Chainlink (LINK) price soars to near $10, here's why
Watch: Solar storm eruption in a high
Is The Bitcoin Movement As A Result Of Market Manipulation?