FG will allow Nigerians trade freely’ — stakeholders hopeful about removal of crypto restrictions latest news for nigerian foreign exchange individuals and citizens #BTC finance Act, the government placed a 10 percent tax on gains on the disposal of digital assets, including cryptocurrencies. #cryptonews #crypto2023

During his presidential manifesto in 2022, Tinubu said if elected as president, he would reform the government’s policies around the usage of blockchain and cryptocurrency to create a more efficient and business-friendly regulatory framework.

Speaking to TheCable on the sideline of the Technext Coinference 3.0 held in Lagos on Monday, Chris Ani, the founder of Daba — a digital currency school — said he expects that by 2024, the government will allow Nigerians to trade cryptocurrency freely without restriction.

Ani said crypto is not illegal in Nigeria, but there is no legal status from the government to allow people to trade freely without fear.

Stakeholders in the blockchain industry have expressed optimism that President Bola Tinubu will lift the restriction placed on cryptocurrency trading by the Central Bank of Nigeria (CBN).

The CBN, under Godwin Emefiele, its former governor, banned cryptocurrency transactions between banks and crypto exchanges in February 2021.

Following the policy, six banks — First City Monument Bank (FCMB), Wema Bank, Stanbic IBTC, Access Bank, United Bank for Africa (UBA), and Fidelity Bank — were fined N1.31 billion for enabling crypto trading.

In May, the federal government approved the national blockchain policy to ensure the adoption of the technology in various sectors such as banking, education, security and commerce.

THE REAL QUESTION IS WHAT IS IN IT FOR THE FEDERAL GOVERNMENT OF NIGERIA?????

ans( THE government would get 10 percent of all proceeds so if you make 100 dollars 10 dollars is theirs and you keep 90 dollars. DOES it seem fair leave answer in comment section.