The Nigerian SEC finally approves Cryptocurrencies

in Hive Naija2 months ago

bitcoin nigeria.png

In a surprising turn of events that went under the radar, the Nigerian Securities Commission finally accepted cryptocurrencies as an alternative investment opportunity, as they call it.

Thanks to this new bit of information, crypto companies can now establish a base of operations within the company and are encouraged to register under the commission.

I'm pretty certain this dramatic change in opinion is based on the fact that a lot of people are interested in cryptocurrency in the country. Other than the fact that Google Trend pointed out that we rank first in the number of searches for Bitcoin, I personally have to answer a lot of questions about cryptocurrency as a whole.

This recent move is a dramatic reversal from their previous hands-off policy to cryptocurrency. With this move towards adoption, I reckon people will see the light and start buying up more digital assets. Getting cryptocurrency is easier than ever, with companies like Binance, Quiddax, Luno and a couple of others working largely under the radar for a couple of years.

In the face of the recession we're facing, the worst recession we've faced in 40 years, a falling currency and a government that leads with draconian policies, this development is a breath of fresh air.

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Glad to hear that, as I recall reading that things were not looking positive for a decision like that. I think this will be good for the people and allow them a way to supplement their income as we've seen with some of the success stories here on LeoFinance. Best wishes to you and your family on this upcoming Thanksgiving holiday here in America! :)


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Hopefully, it turns out to be something good for people in the country.
I've heard about Thanksgiving turkey many times and I'd definitely like to have some of that one day

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I'm excited and skeptical about this sudden change of heart in equal measure, as the Nigerian Government may attempt to overtly regulate the crypto space it just gave a new lease of life to. After all is said and done, there's progress afoot and I'll take it.

It's hard not to be skeptical, since it is the Nigerian government we're talking about. The beauty of crypto is that the underlying technology is way above their heads, so tracking and sanctioning it is impossible. Since they can't track it, they night as well just accept it for what it is and just move along.

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They're gonna tax you.

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Lol I hate that you're right

It's obvious 😁

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Maybe your should try to make a assocation in Nigera to get all crypto investers under one umbrella, to keep the pressure on your goverment to keep crypto allowed. I guess there are quiet a few Nigerians fuddeling around with crypto :D

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More than a few actually. We account for the biggest traffic in crypto in the continent

Then you should really get together to strengthen your voice!