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HOW DOES NIGERIAS CRYPTO INDUSTRY FEARED IN 2024
The Nigeria's crypto market is expected to continue its growth in 2024, driven by a young and tech-savvy population. Despite economic challenges like inflation and currency devaluation, Nigerians are increasingly turning to cryptocurrency as a means of financial transaction and store of value. The government's shift from hostility to support, as seen in the new president's vision for a "blockchain-powered" digital economy, is also expected to boost growth. However, regulatory clarity will be crucial in shaping the future of crypto in Nigeria. Some key trends to watch include:
1. Continued crypto growth: As more users come online and DeFi continues to evolve, crypto is likely to play an increasingly major role in Nigeria's economy.
2. Emergence of RWA tokenization: The Nigerian government's push for a blockchain-powered economy is expected to lead to a surge in asset tokenization, making assets like real estate and oil more accessible and liquid.
3. Improved regulatory clarity: The government is likely to continue developing a more favorable regulatory environment for blockchain, driven by its goal to create a "blockchain-powered" digital economy.
4. Renewed eNaira adoption drive: The government is expected to renew efforts to promote eNaira adoption, enhancing its features and functionality to make it more attractive to users.
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#NigeriaNews #CTYPTONEWS
1. Continued crypto growth: As more users come online and DeFi continues to evolve, crypto is likely to play an increasingly major role in Nigeria's economy.
2. Emergence of RWA tokenization: The Nigerian government's push for a blockchain-powered economy is expected to lead to a surge in asset tokenization, making assets like real estate and oil more accessible and liquid.
3. Improved regulatory clarity: The government is likely to continue developing a more favorable regulatory environment for blockchain, driven by its goal to create a "blockchain-powered" digital economy.
4. Renewed eNaira adoption drive: The government is expected to renew efforts to promote eNaira adoption, enhancing its features and functionality to make it more attractive to users.
$BTC $ETH $XRP
#NigeriaNews #CTYPTONEWS
How can we be like this .. not just to handle human unlawfully.. #NigeriaNews
LIVE
Richard Teng
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Today marks 6 months since Tigran was unjustly detained. He is denied proper medical treatment & legal counsel.
We appeal to the Nigerian government on humanitarian grounds to allow Tigran to return home for urgent medical care & reunite with his family.
https://www.binance.com/en/blog/leadership/from-richard-teng-binance-ceo-tigrans-deteriorating-condition-after-6-months-of-unjust-detention-426448993678618773?hl=en
We appeal to the Nigerian government on humanitarian grounds to allow Tigran to return home for urgent medical care & reunite with his family.
https://www.binance.com/en/blog/leadership/from-richard-teng-binance-ceo-tigrans-deteriorating-condition-after-6-months-of-unjust-detention-426448993678618773?hl=en
What is happening in Nigeria between the Government and Binance is just one of the many challenges that the cryptocurrency industry will face in the process of mass adoption. BINANCE IS NOT SHUTTING DOWN. I see so many people of social media, even influencers who has no glue of what cryptocurrency is; talking about the issue of Binance in Nigeria. saying Binance is the cost of why naira is crashing or Binance is going Dow. They just be causing panic in the space.
Binance is not the cause or the reason why the Naira is crashing or the Nigeria economy is failing. Anyone who knows how simple economy functions, how demand and supply works, how international trade and transactions work Will understand this things.
The Nigerian government and some ignorant Nigerians should stop trying to look for who to blame for their failed economy. Look at Singapore, El Salvador, Dubai, Bahrain, and a host of others. Ring any bell? Yeah El Salvador literally legalized Bitcoin as legal tender, we didnât hear of their currency crashing or economy failing, rather it gave them an upper hand not to really on the US dollar for exchange.
People should stop panicking and getting information from all sort of wrong places. DO YOUR OWN RESEARCH. you might not know but some politicians and government officials, even corporations and high level individuals are using this situation to milk money from the country and from the middle class and working masses trying to get a better life.
No good government will try to stop something that has brought about jobs and employment to the least people in Nigeria even to the most remote areas. Brought financial education and literacy to the masses. Only a corrupt government will try to shield the masses from the light of civilization and globalization.
Digital currency is here to stay and Crypto is the future. DO YOUR OWN RESEARCH.
#Write2Earn⏠#Nigerians #NigeriaNews #NigeriaCrypto
Binance is not the cause or the reason why the Naira is crashing or the Nigeria economy is failing. Anyone who knows how simple economy functions, how demand and supply works, how international trade and transactions work Will understand this things.
The Nigerian government and some ignorant Nigerians should stop trying to look for who to blame for their failed economy. Look at Singapore, El Salvador, Dubai, Bahrain, and a host of others. Ring any bell? Yeah El Salvador literally legalized Bitcoin as legal tender, we didnât hear of their currency crashing or economy failing, rather it gave them an upper hand not to really on the US dollar for exchange.
People should stop panicking and getting information from all sort of wrong places. DO YOUR OWN RESEARCH. you might not know but some politicians and government officials, even corporations and high level individuals are using this situation to milk money from the country and from the middle class and working masses trying to get a better life.
No good government will try to stop something that has brought about jobs and employment to the least people in Nigeria even to the most remote areas. Brought financial education and literacy to the masses. Only a corrupt government will try to shield the masses from the light of civilization and globalization.
Digital currency is here to stay and Crypto is the future. DO YOUR OWN RESEARCH.
#Write2Earn⏠#Nigerians #NigeriaNews #NigeriaCrypto
Nigerian crypto community split over govtâs bid for Binance user data
"Chukwumaeze Dike, a crypto enthusiast and cybersecurity specialist, said he finds the request for the top 100 users surprising and doubts Binance will comply.
Nigerian cryptocurrency stakeholders are weighing in on the governmentâs request for Binance to disclose details about its top 100 users in the country amid a crackdown on the exchange. Opinions in the crypto community vary, with some supporting the governmentâs actions while others disagree.
In interviews with Cointelegraph, local crypto stakeholders shared their opinions about the situation. Crypto analyst Rume Ophi said that the government was well within its rights, as requests like this are always made when the government is trying to investigate national security matters.
However, Ophiâs opinion doesnât sit well with that of other local crypto enthusiasts who took to X to express their disagreement. Chukwumaeze Dike, a crypto enthusiast and cybersecurity specialist, said he finds the request for the top 100 users surprising and doubts Binance will comply.
However, Nigerian finance professional Olumide Adesina took to X to inform Binance users about the specified terms for disclosing such information via the companyâs Government Law Enforcement Request System.
The Binance Government Law Enforcement Request System states that Binance may share user information with courts, law enforcement authorities, regulators, attorneys or other third parties to comply with laws and respond to law enforcement and regulatory requests, especially when compelled to by a subpoena, court order, search or seizure warrant."
Published by AMAKA NWAOKOCHA on Cointelegraph
#NigerianTraders #NigeriaNews #Nigerians #Nigerian
Nigerian cryptocurrency stakeholders are weighing in on the governmentâs request for Binance to disclose details about its top 100 users in the country amid a crackdown on the exchange. Opinions in the crypto community vary, with some supporting the governmentâs actions while others disagree.
In interviews with Cointelegraph, local crypto stakeholders shared their opinions about the situation. Crypto analyst Rume Ophi said that the government was well within its rights, as requests like this are always made when the government is trying to investigate national security matters.
However, Ophiâs opinion doesnât sit well with that of other local crypto enthusiasts who took to X to express their disagreement. Chukwumaeze Dike, a crypto enthusiast and cybersecurity specialist, said he finds the request for the top 100 users surprising and doubts Binance will comply.
However, Nigerian finance professional Olumide Adesina took to X to inform Binance users about the specified terms for disclosing such information via the companyâs Government Law Enforcement Request System.
The Binance Government Law Enforcement Request System states that Binance may share user information with courts, law enforcement authorities, regulators, attorneys or other third parties to comply with laws and respond to law enforcement and regulatory requests, especially when compelled to by a subpoena, court order, search or seizure warrant."
Published by AMAKA NWAOKOCHA on Cointelegraph
#NigerianTraders #NigeriaNews #Nigerians #Nigerian