What do you think about the NIGCOIN the CBN is proposing?

[Kingsley]

As we are all aware that the Nigerian government has cracked down on crypto currency trading in Nigeria, infact they placed a ban on all transactions on crypto currencies and stopped banks from working with exchangers and even went as far is freezing and closing the account of those found to be involved in crypto currency trading.

But with the recent development all over the world where so many advanced countries are even showing somuch support for the trading of crypto currencies and many of them even developing their own crypto currencies. So many governments are trying to tap into the enormous benefits in the trading of crypto, in the U.S. the government is trying to charge taxes on crypto traders and this will help to regulate the system and at the same time generate income for their country.

We have recently heard about the proposal of the CBN to launch an home based Nigerian crypto coin, this is giving me the impression that they might have realised their initial blenders and they are trying to retrace their steps and get it right this time.

What is your take on this?

 

[Sotherefore]

Anything that has to do with the Nigerian government is something I'll never take serious because I know they are just joking and sometimes they are not always serious in what they are saying, they are planning to establish their own cryptocurrency no doubt but how long will this take. I can't have time to wait for them.