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P2P Crypto Ban Imminent as Nigeria Calls Crypto a National Security Issue
As published on TechCabal
May 03, 2024
At least three Nigerian fintech startups—Moniepoint, Paga and Palmpay—will block the accounts of customers dealing in cryptocurrency and report those transactions to law enforcement after Nigeria’s National Security Adviser (NSA) classified crypto trading as a national security issue.
That designation means a new crypto regulation that will ban peer-to-peer trading of cryptocurrencies is in the works, said Tosin Eniolorunda, the CEO of Moniepoint.
Another person with knowledge of the conversations told TechCabal that a regulation to ban p2p trading will soon be made public.
If the ban happens, it will represent a major regulatory shift after the Bola Tinubu administration initially softened its stance on crypto. In December 2023, the Central Bank lifted a two-year ban on cryptocurrency transactions, and at least three crypto exchanges were in talks with the Securities and Exchange Commission (SEC) over a crypto license.
Yet, the early successes have been reversed and in the past two months, authorities have blamed a volatile FX regime on crypto speculators.
#P2P #Binance #TrendingTopics
As published on TechCabal
May 03, 2024
At least three Nigerian fintech startups—Moniepoint, Paga and Palmpay—will block the accounts of customers dealing in cryptocurrency and report those transactions to law enforcement after Nigeria’s National Security Adviser (NSA) classified crypto trading as a national security issue.
That designation means a new crypto regulation that will ban peer-to-peer trading of cryptocurrencies is in the works, said Tosin Eniolorunda, the CEO of Moniepoint.
Another person with knowledge of the conversations told TechCabal that a regulation to ban p2p trading will soon be made public.
If the ban happens, it will represent a major regulatory shift after the Bola Tinubu administration initially softened its stance on crypto. In December 2023, the Central Bank lifted a two-year ban on cryptocurrency transactions, and at least three crypto exchanges were in talks with the Securities and Exchange Commission (SEC) over a crypto license.
Yet, the early successes have been reversed and in the past two months, authorities have blamed a volatile FX regime on crypto speculators.
#P2P #Binance #TrendingTopics
#Binance #AtomicSwap #crypto2023
An atomic swap is a #P2P exchange of cryptocurrencies without the need for a trusted intermediary or centralized exchange. It allows two parties to trade different cryptocurrencies without the risk of fraud or counterparty risk
An atomic swap is a #P2P exchange of cryptocurrencies without the need for a trusted intermediary or centralized exchange. It allows two parties to trade different cryptocurrencies without the risk of fraud or counterparty risk
#LocalBitcoins , one of the first #P2P #cryptocurrency platforms, is shutting down his operations after more than ten years of serving its users.
Ever used P2P?
#P2P #trade on #Binance is a peer-to-peer marketplace where buyers and sellers can directly trade #cryptocurrencies with each other, without involving Binance as an intermediary. To use it, select P2P trading, choose a seller, transfer funds, and receive #crypto
#P2P #trade on #Binance is a peer-to-peer marketplace where buyers and sellers can directly trade #cryptocurrencies with each other, without involving Binance as an intermediary. To use it, select P2P trading, choose a seller, transfer funds, and receive #crypto
✨Let's review the #highlights of the PearDAO last week!✨
(PearDAO - the first native P2P Trading platform on BNB Chain)
⚡️$38,3M+ Total Trading Volume
⚡️2,0M+ $PEX Distributed Reward
⚡️123k+ Pear Community
#P2P #Binance #crypto2023 #BNBChain 🍐 🔶
(PearDAO - the first native P2P Trading platform on BNB Chain)
⚡️$38,3M+ Total Trading Volume
⚡️2,0M+ $PEX Distributed Reward
⚡️123k+ Pear Community
#P2P #Binance #crypto2023 #BNBChain 🍐 🔶
On Binance #P2P , merchants can earn money by placing trading adverts and closing trades.
Unique advantages for #Binance P2P merchants include access to more trading tools, reduced fees, and special promotions.
#crypto2023
Unique advantages for #Binance P2P merchants include access to more trading tools, reduced fees, and special promotions.
#crypto2023
Zigzag has announced #Airdrop
ZigZag is a decentralised #P2P order book exchange that uses #ZK-Rollups for optimal security and scalability.
What to do:
- check eligibility (https://docs.zigzag.exchange/zigzag-exchange/airdrops)
- wait for announcements
ZigZag is a decentralised #P2P order book exchange that uses #ZK-Rollups for optimal security and scalability.
What to do:
- check eligibility (https://docs.zigzag.exchange/zigzag-exchange/airdrops)
- wait for announcements
What is P2P, which plays an important role in the cryptocurrency ecosystem?
#P2P in cryptocurrency refers to a decentralized network architecture where participants can transact directly with each other without the need for intermediaries such as banks or financial institutions. This network is often referred to as a P2P network because it connects users directly without any central point of control.
In a P2p network, each node in the network can communicate with other nodes and validate transactions. Each user has a copy of the ledger (i.e., the blockchain) and can validate transactions based on a consensus mechanism, such as proof-of-work or proof-of-stake. This decentralization helps ensure the security and transparency of the network while reducing the risk of fraud or manipulation by central authorities.
How Does P2P in Cryptocurrency Work?
In a P2P network, each participant has a copy of the blockchain, which is a public ledger that records all transactions made on the network. Whenever a new transaction is made, it is broadcast to all the nodes in the network. The nodes then validate the transaction based on the consensus mechanism, and if it's valid, the transaction is added to the blockchain.
Since each node in the network has a copy of the blockchain, there is no central point of control, making it extremely difficult for any single entity to manipulate the network. Additionally, because transactions are verified by multiple nodes in the network, it is difficult for any one node to cheat the system.
Conclusion
P2P networks are an integral part of the cryptocurrency ecosystem, enabling decentralized and secure transactions that are not controlled by any central authority. The use of P2P networks in cryptocurrency helps ensure the transparency, security, and privacy of transactions, while also enabling faster and more efficient transactions. As cryptocurrency continues to gain mainstream adoption, P2P networks are likely to play an increasingly important role in the global financial system.
#Binance #crypto2023
In a P2p network, each node in the network can communicate with other nodes and validate transactions. Each user has a copy of the ledger (i.e., the blockchain) and can validate transactions based on a consensus mechanism, such as proof-of-work or proof-of-stake. This decentralization helps ensure the security and transparency of the network while reducing the risk of fraud or manipulation by central authorities.
How Does P2P in Cryptocurrency Work?
In a P2P network, each participant has a copy of the blockchain, which is a public ledger that records all transactions made on the network. Whenever a new transaction is made, it is broadcast to all the nodes in the network. The nodes then validate the transaction based on the consensus mechanism, and if it's valid, the transaction is added to the blockchain.
Since each node in the network has a copy of the blockchain, there is no central point of control, making it extremely difficult for any single entity to manipulate the network. Additionally, because transactions are verified by multiple nodes in the network, it is difficult for any one node to cheat the system.
Conclusion
P2P networks are an integral part of the cryptocurrency ecosystem, enabling decentralized and secure transactions that are not controlled by any central authority. The use of P2P networks in cryptocurrency helps ensure the transparency, security, and privacy of transactions, while also enabling faster and more efficient transactions. As cryptocurrency continues to gain mainstream adoption, P2P networks are likely to play an increasingly important role in the global financial system.
#Binance #crypto2023
⚡#DelphiLabs has announced the closure of its $13.5M funding round led by #P2P
Delphi Labs, the incubation arm of #cryptocurrency research firm #DelphiDigital , has raised $13.5M in a round led by P2P with participation from noted investment firm Jump #Crypto .
Delphi Labs, the incubation arm of #cryptocurrency research firm #DelphiDigital , has raised $13.5M in a round led by P2P with participation from noted investment firm Jump #Crypto .
Binance people today I want to recognize the incredible work of the P2P team that never leave you alone and will never allow someone to scam you even if you send extra money by mistake 🤍🙏🏼😍
#P2P #Binance #binancepaymarketplace #binancefeed 👏👏👏👏💛🖤💛🖤💛💛💛
#P2P #Binance #binancepaymarketplace #binancefeed 👏👏👏👏💛🖤💛🖤💛💛💛
We are active in the weekly trivia 🎉🚀
We are waiting for you to talk about P2P at:
TG:
t.me/BinanceSpanish
#Binance #Binance10M
#P2P
We are waiting for you to talk about P2P at:
TG:
t.me/BinanceSpanish
#Binance #Binance10M
#P2P
