Bitcoin is a cryptocurrency, a form of electronic cash. World Nigeria's cryptocurrency crackdown causes confusion. The country has become a reference point in the emerging markets of Middle East and Africa when trading on crytocurrency is discussed. Governor of the Central Bank of Nigeria (CNB) Godwin Emefiele on Tuesday appeared before the Senate to defend the ban on cryptocurrency trading in the country. Tech consultant and investor, Victor Asemota, has defended bitcoin and cryptocurrency against claims made by Godwin Emefiele, the governor of the Central Bank of Nigeria … Nigeria SEC Releases Proposed Cryptocurrency Regulations The Securities and Exchange Commission in Nigeria has released a proposed set of regulations for cryptocurrencies. Government concerned about protesters using donations collected from Bitcoin Godwin Emefiele, governor of Nigeria’s central bank, which recently barred banks from serving crypto exchanges, is said to have explained the bank’s stance on cryptocurrency usage in … Naija247news.com is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy. The Guardian Nigeria Newspaper brings you the latest headlines, opinions, political news, business reports and international news. In 2020, Nigerian citizens traded over $400 million worth of cryptocurrency on various domestic exchange platforms. Cryptocurrency in Nigeria The Central Bank of Nigeria (CBN) has circulated a letter directing banks and financial institutions to identify and close accounts of cryptocurrency transacting entities. The Latest news in Nigeria and world news. Dogecoin, one cryptocurrency wey dem use play-play take create, reach major milestone on Tuesday wen di price rise to 11.5 cents, dis na di first time di cryptocurrency … It is a decentralized digital currency without a central bank or single administrator that can be sent from user-to-user on the peer-to-peer bitcoin network without the need for intermediaries. Nigeria — the world's second-largest Bitcoin market after the United States — has banned the trading of cryptocurrencies. DESPITE ban, Nigeria still blazes the trail in cryptocurrency growth. DESPITE ban, Nigeria still blazes the trail in cryptocurrency growth. The Securities and Exchange Commission (SEC) says discussion is ongoing with the Central Bank of Nigeria (CBN) over the regulation of cryptocurrencies. Nigeria’s interest in cryptocurrency hit a peak during the summer of last year (of about $20,504.50), touching the highest peak since early 2018. 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