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Showing posts from February, 2021

CENTRAL BANK OF NIGERIA VS CRYPTOCURRENCY BLOCKCHAIN

  The Central Bank of Nigeria has instruct banks and other financial institutions to close customers accounts used in trading bitcoin and other cryptocurrencies transactions.   The Nigerian bank regulator #CBN ordered deposit money banks, non-bank financial institutions and other financial institutions to identify persons and/or entities transacting in or operating cryptocurrency exchanges within their systems and ensure that such accounts are closed immediately.  The CBN has been long taken a strict position against cryptocurrencies, which have become a major unit of commerce across the world in recent years.   In October last year, at the height of the #ENDSARS protests, the bank restricted some financial institutions from receiving or making crypto payments. The restricted accounts belonged to predominantly young Nigerians who had either sent or received funds to run the #EndSARS protests. When the major fundraisers, Feminist Coalition, were block...