EXPERTS Cryptocurrency CBN ban in Nigeria 3 years ago Samuel Post Views: 395 Even though many of im pipo dey trade in Cryptocurrency, African countries never show di kain support wey many expect, although some don dey take small-small step to accept am. Bitcoin, Dogecoin, Ethereum – dis na some of di popular cryptocurrency wey Africans don dey trade in and di fact say many kontries never recognize am as legal money no stop di growth. One report by sabi company Baker Mckenzie say Nigeria na number three in di world for countries wey dey trade in Bitcoins (wey be di most popular type of cryptocurrency). And Paxful, wey be crypto exchange platform say for 2020, Nigeria na im do crypto trading pass for Africa wit volume of 60,215 Bitcoins wey worth $566,668,692. Some don argue say if African kontries regulate crypto, e go make am dey even more popular, and make di economy ginger. But odas reason am to be like gambling. Make we torchlight wetin some African kontris don tok (or no tok) about di use of cryptocurrency. Ghana Di Bank of Ghana no recognize cryptocurrency as legal form of currency, although dem don arrange Bill to regulate cryptocurrency. Nigeria Nigeria Security and Exchange Commission (SEC) for statement wey dem release for dia official website in 2018 say dem go regulate digital assets like cryptocurrency because ‘digital asset offerings’ like crypto-token or crypto-coin dey provide anoda wey wey pipo go fit invest or keep dia money as asset. Dis ground breaking statement surprise many as e be say di Central Bank of Nigeria don draw ear before give kontri pipo say dealers and investors in any kind of crypto currency in Nigeria no dey protected by law, according to one CBN circular on 28 February, 2018. For February 2021, di CBN give order say make financial instructions close down accounts of any customer wey dey involved wit cryptocurrency. Kenya Kenya goverment no recognise cryptocurrency because of di way e dey difficult to regulate am although dem don form task force wey go torchlight whether dem fit adopt am. Source: Baker Mckenzie South Africa As one of di most advanced economies for Africa, dem don dey look into how dem fit allow cryptocurrency. In fact, di national treasury don propose say make dem change di law to recognise am. And di Crypto Assets Regulatory Working Group na im dey responsible to torchlight any law wey fit epp dem legalise crypto. But di South Africa Reserve Bank never comot any law to give am legal backing. Mauritius Di kontri no be stranger to di different financial trading service wey di world dey move to. Di island country get many forex trading companies wey dey registered dia and for crypto dem don arrange one framework to allow am. Source: bbc.com About Post Author Samuel I am a journalist specializing in gambling in Africa and around the world. I am particularly interested in stories about games and casinos. See author's posts SamuelI am a journalist specializing in gambling in Africa and around the world. I am particularly interested in stories about games and casinos. Facebook Twitter LinkedIn Email Print Tags: African countries, bitcoin, cryptocurrence Continue Reading Previous Sportsmen that were expelled because of gamblingNext Nigeria Apex Bank Orders Banks to Stop Processing Crypto More Stories EXPERTS KENYA Child Online Protection 58 mins ago Samuel EXPERTS SOUTH AFRICA Remote Gambling Bill aims to regulate online gambling 1 hour ago Samuel EXPERTS NIGERIA The industries behind Nigeria’s economic explosion 2 days ago Samuel EXPERTS SOUTH AFRICA South African Regulator Grants Approval to 59 Crypto Platforms for Resident Services 2 days ago Samuel EXPERTS WORLD NEWS IOC and UEFA come together to protect sports betting integrity 3 days ago Szarlot EXPERTS KENYA How SiGMA’s Expansion into Kenya is Reshaping the African Gambling Landscape 3 days ago Szarlot BOTSWANA EXPERTS BMM Testlabs secures licenses for compliance testing in Botswana and Nigeria 3 days ago Samuel EXPERTS HOT NEWS WORLD NEWS Which Country Has The Highest Percentage Of Gamblers? 6 days ago Samuel EXPERTS SOUTH AFRICA Exploring Gambling Trends In South Africa 1 week ago Szarlot EXPERTS NIGERIA New partnership between BetKing and Genius Sport in Nigeria 1 week ago Iwo Bulski EXPERTS TANZANIA Why Crypto Betting Sites Is The New Deal In Africa? 1 week ago Szarlot EXPERTS SOUTH AFRICA KZN gaming sector collects R724m for service delivery 1 week ago Samuel Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment * Name * Email * Website Save my name, email, and website in this browser for the next time I comment. Δ This site uses Akismet to reduce spam. Learn how your comment data is processed.