Central Bank of Nigeria Lifts Crypto Ban Following New SEC Regulation

The Central Bank of Nigeria (CBN) has reversed its ban on dealing with companies involved in digital tokens. According to a report by BusinessDay, the CBN has now instructed lenders to open accounts for crypto firms, marking a reversal of the ban imposed in 2021. The decision comes as the Securities and Exchange Commission (SEC) issued new regulations for crypto companies operating in the country. The CBN’s ban, introduced in February 2021, prohibited deposit-taking financial institutions from transacting with or operating cryptocurrency exchanges. Under the new regulations, Nigerian banks are now permitted to open bank accounts for crypto companies, also known as Virtual Asset Service Providers (VASPs).
#BTC #sol #ETH #CBN

#ALERT It is said Nigerian banks are becoming scared of crypto especially the Binance platform, it is recorded that over half of the Nigerian population use the Binance platform and has transacted over
$26 Billion, imagine people transacting and using Binance-pay in Nigeria
The Banks will be the one at lost
No customers !!!
No more politicians control our money
#Binancepay #Nigeria #CBN #Write2Earn‬

#CBN #NIGERIA #CRYPTOCURRENCY #BANLIFT BTC

A good closure for 2023,central bank of Nigeria lifting up the ban on any #CRYPTOCURRENCY #TRADES .✌️✌️✌️

BREAKING: #CBN The Central bank of Nigeria Lifts restrictions on Nigerian Banks from facilitating Crypto transactions. This is a significant stride as Nigeria has been ranked along side India and Thailand as the top three countries in Chainalysis’ “2023 Global Crypto Adoption Index,” with lower middle-income (LMI) nations leading the way in the grassroots adoption of cryptocurrencies.
https://cointelegraph.com/news/india-tops-chainalysis-2023-global-crypto-adoption-index
#crypto2024SpaceCatch #NewsAlert #AfricanCryptoMarket

CRYPTO FULLY BACK IN NIGERIA: GOOD NEWS FOR CRYPTO LOVERS?

Nigeria's Central Bank lifts a 2-year crypto ban with new stringent guidelines for transparency and security.

Banks must now conduct rigorous customer checks, obtain BVN for crypto business owners, and adhere to SEC regulations.

Despite imperfections, industry leaders like Quidax CEO Buchi Okoro express optimism, emphasizing the importance of building confidence.

The move aims to align with global standards, striking a balance between innovation and consumer protection.

A pivotal moment in Nigeria's crypto journey, these changes are set to attract more participants and foster a secure crypto environment.

#NigeriaCrypto #CBN #proSEED

WHAT YOU SHOULD KNOW ABOUT CRYPTOCURRENCY.
Any government who lacks knowledge about cryptocurrency needs to read this. Any individual who don't understand what is cryptocurrency needs to read this including the Nigeria #CBN who practically don't understand anything about cryptocurrency and wants to trace transactions should as well read this and lastly if you are new to cryptocurrency business or trading kindly read this before you jump in to trade.
How Does Cryptocurrency Work? A Beginner's Guide

Cryptocurrency is digital money that doesn’t require a bank or financial institution to verify transactions and can be used for purchases or as an investment. Transactions are then verified and recorded on a blockchain, an unchangeable ledger that tracks and records assets and trades.
  
What is cryptocurrency?
Cryptocurrency, or crypto, is a digital payment platform that eliminates the need to carry physical money. It exists only in digital form, and although people mainly use it for online transactions, you can make some physical purchases. Unlike traditional money printed only by the government, several companies sell cryptocurrency. 
Cryptocurrencies are fungible, meaning the value remains the same when bought, sold, or traded. Cryptocurrency isn’t the same as non-fungible tokens (NFTs) with variable values. For example, one dollar in crypto will always be one dollar, whereas the value of one NFT dollar depends on the digital asset it’s attached to.
Although government regulations are absent from the cryptocurrency market, they are taxable assets. You’ll need to file any profit or loss with the Internal Revenue Service.
How are cryptocurrencies created?

Mining is the term used to describe the process of creating cryptocurrency. Transactions made with cryptocurrency need to be validated, and mining performs the validation and creates new cryptocurrency. Mining uses specialized hardware and software to add transactions to the blockchain.
follow my page or you can tips me a coin to support me #HotTrends #write2earn…. #pepe #BTC🔥🔥🔥🔥