Nigerla Senate want CBN Crypto currency ban reverse

[Ahmedo24]

Yesterday at the plenary the majority of the senators from the southern part of the country stood firmly that that CBN ban on Crypto currencies Exchange was a wrong step in a wrong direction because other countries are using Crypto currencies and it is time the country give digital solution a chance , they said lots of Nigerlans are actively trading Crypto currencies legitmately. They call for regulations rather than outright ban by the CBN. The Senate has concluded arrangements to invite The DG SEC and CBN governor for hearing. In your opinion what do you think outcome could be like?

 

[sincerem]

The outcome will be useless. The Nigerian Senate is a rubber stamp for the Federal Government. They cannot tackle and successfully change policies. What they are angry about is that they were not carried along when this decision was made but they will do nothing about it.

Hmm, this one is a sad one now to hear. I was getting some positive news about the outcome of their soon to be organised conference. If it eventually holds, my prayer will be that, Cryptocurrency be restored back in order so we can continue trading with naira comfortably. I don't want permanent ban of crypto_ naira trading, that gonna be disastrous in our crypto career.

 

[sincerem]

To be frank, I don't see the regulation as a threat but even a blessing for me to hold to my coins and prevent me from selling the coins instantly. The senators and even the house of representatives members have much coins in cryptocurrency too. So this does not affect only the youth. The only law that I am praying for its reversal is ability to be receiving money directly from international market.

Assume can withdraw my funds via my local wallet, i wouldn't have been bothered like this. But since the pronouncement affected both the withdrawal and deposit, it became an obstruction to my online earnings that has to do with Cryptocurrency. But I'm finding other ways to cash out my funds online. Everything that happens, occurred for a purpose, at least we are learning other ways to cash out and fund our wallet online.

 

[btaliat]

To be frank, I don't see the regulation as a threat but even a blessing for me to hold to my coins and prevent me from selling the coins instantly. The senators and even the house of representatives members have much coins in cryptocurrency too. So this does not affect only the youth. The only law that I am praying for its reversal is ability to be receiving money directly from international market.

 

[sincerem]

Don't be sad because he is just sharing his own opinion but I could see there is more hatred to the government than the just recent ban, no doubt most of us are not happy but it is through dialogue and consultation that issues can be resolved not abuse. Let us be calm and watch as things unfold.

You spoke like a wise dude, we shouldn't panic yet, rather wait for solution and hope they meet and discuss through memorandum of understanding. I know CBN is reluctant to listen to house of senate only the grace of God can make such case to be reversed. I'll keep calm just as you said and hear the next actions to rumble down.

 

[Ahmedo24]

The trading of cryptocurrency in Nigeria really improved the standard of living in most of the youth in the country especially that of Bitcoin where you could buy when it's low and sell when it's high making them make some profit of it. The banning of crypto in Nigeria has already started affecting the country. Though the issue was delegated at the senate meeting yesterday where almost all the northern senator's where against the lifting on the ban while almost all southern senator's where in support of lifting the ban. Though they already told the CBN governor to meet with them on their next meeting to delegate the issues

I am very optimistic that the out come will be possible though the media need to keep engaging in disapproving the ban so that the Senate can speed up every process and let us also put in prayers that God help us out because Crypto currency engagements has been profitable and free of criminal or scam activities.

 

[Ekuvero]

The trading of cryptocurrency in Nigeria really improved the standard of living in most of the youth in the country especially that of Bitcoin where you could buy when it's low and sell when it's high making them make some profit of it. The banning of crypto in Nigeria has already started affecting the country. Though the issue was delegated at the senate meeting yesterday where almost all the northern senator's where against the lifting on the ban while almost all southern senator's where in support of lifting the ban. Though they already told the CBN governor to meet with them on their next meeting to delegate the issues

 

[Ahmedo24]

It will be a very good idea if the ban is lifted, the past few days has not been good for crypto traders as a result of the ban, it has affected the daily transaction of crypto transaction, though their claim is that the crypto currency is affecting the value of the Naira, but there should be another way to resolve it, businesses they will lose a lot of money they will have gained from transaction charges related to cryptocurrency.

That is the spirit it is better we are more prepared and optimistic about the development instead of abusing people that will seat and ensure smooth running of cryptocurrency in Nigeria lots of people have been discouraged about this ban it is only few people who are very prepared butter using P2P transactions for their buying and selling of cryptocurrency.

 

[Sammyesx]

It will be a very good idea if the ban is lifted, the past few days has not been good for crypto traders as a result of the ban, it has affected the daily transaction of crypto transaction, though their claim is that the crypto currency is affecting the value of the Naira, but there should be another way to resolve it, businesses they will lose a lot of money they will have gained from transaction charges related to cryptocurrency.

 

[Ahmedo24]

Hmm, this one is a sad one now to hear. I was getting some positive news about the outcome of their soon to be organised conference. If it eventually holds, my prayer will be that, Cryptocurrency be restored back in order so we can continue trading with naira comfortably. I don't want permanent ban of crypto_ naira trading, that gonna be disastrous in our crypto career.

Don't be sad because he is just sharing his own opinion but I could see there is more hatred to the government than the just recent ban, no doubt most of us are not happy but it is through dialogue and consultation that issues can be resolved not abuse. Let us be calm and watch as things unfold.

 

[Ahmedo24]

The outcome will be useless. The Nigerian Senate is a rubber stamp for the Federal Government. They cannot tackle and successfully change policies. What they are angry about is that they were not carried along when this decision was made but they will do nothing about it.

This is the greatest problem we have is Nigeria we are always very negative about issues if the Senate careless About the cbn ban do you think such matter will be raising the plenary but now that it has been raised and the Senate has invited the cbn and the sec for more interrogation or engagement whynotbi patiently waits and be very optimistic instead of calling the government bad names and the Senate bad names we need to change our attitudes.

 

[Ahmedo24]

The outcome will be useless. The Nigerian Senate is a rubber stamp for the Federal Government. They cannot tackle and successfully change policies. What they are angry about is that they were not carried along when this decision was made but they will do nothing about it.

This is the greatest problem

 

[greatguy1]

Yesterday at the plenary the majority of the senators from the southern part of the country stood firmly that that CBN ban on Crypto currencies Exchange was a wrong step in a wrong direction because other countries are using Crypto currencies and it is time the country give digital solution a chance , they said lots of Nigerlans are actively trading Crypto currencies legitmately. They call for regulations rather than outright ban by the CBN. The Senate has concluded arrangements to invite The DG SEC and CBN governor for hearing. In your opinion what do you think outcome could be like?

The outcome will be useless. The Nigerian Senate is a rubber stamp for the Federal Government. They cannot tackle and successfully change policies. What they are angry about is that they were not carried along when this decision was made but they will do nothing about it.

 

[sincerem]

You never can tell that the band won't be reverse it is very possible that it will be reverse but cryptocurrencies will be regulated and I hope the invitation sent by the Senate to the cbn governor and the DG of SEC is honored and a robust dialogue and favourable resolutions are reached . The government has not live up.to expectations.

I just hope so, that the Cryptocurrency to naira exchange be reversed. We should believe that it can be reversed since some 'think thank' people are strongly behind it, and hoping that things get better again with Cryptocurrency. Cos they know too well lots of Nigerians are earning a living through Cryptocurrency in a legitimate way, no doubt. And they wouldn't want those earning legitimately to suffer more than they shouldn't.

 

[Ahmedo24]

The ban is not gonna be reversed... As far as it is the Nigerian government that we are talking about.... This issue of the ban of crytocurrencies is just a way for the poor to be poorer and the rich, richer. I don't see it anyway more than that but as time goes on things will be normal... Bank will start to accept it...

You never can tell that the band won't be reverse it is very possible that it will be reverse but cryptocurrencies will be regulated and I hope the invitation sent by the Senate to the cbn governor and the DG of SEC is honored and a robust dialogue and favourable resolutions are reached . The government has not live up.to expectations.

 

[Doradorwa]

The ban is not gonna be reversed... As far as it is the Nigerian government that we are talking about.... This issue of the ban of crytocurrencies is just a way for the poor to be poorer and the rich, richer. I don't see it anyway more than that but as time goes on things will be normal... Bank will start to accept it...

 

[Dekadet]

Write your reply... This is a very good move by the southern senators, a lot of youths have no job and are making a living from legit cryptocurrency trading, then a government that won't provide jobs for them would wake up one day and ban all cryptodeals in the country. Do you think that government have its masses at heart?

Please youths, let us kick these old outdated men in government out, what they don't know or understand, they call it evil and make necessary moves to ban it.