تنبيه: يقول البنك المركزي النيجيري أن النيجيريين يمكنهم التجارة
After all the discussions imposed on February 5th by the ban on cryptocurrencies in Nigeria, it turned out that Nigerians are free to trade cryptocurrencies
The senior director of the Central Bank of Nigeria said that CBN did not prohibit cryptocurrency transactions for private investors. This clarification came 1.5 months after the ban was imposed.
Since February 5, when the ban on trading was introduced, the number of transactions on centralised exchanges has decreased, but has grown in the P2P network. With this in mind, some users worried that the regulator might impose a ban on P2P transactions. However, as the high-ranking representative of the Central Bank stressed, the ban did not concern private transactions with cryptocurrency.
According to the published data, the ban of the central bank is aimed solely at banking institutions, not on private traders. Despite this, the ban has already had a negative impact on Nigeria's cryptosphere. Startups and cryptocurrency businesses were affected. However, the situation may soon improve.
According to some representatives of the cryptosphere, Nigeria is taking steps not to ban, but to the correct regulation of cryptocurrencies. The Nigerian Securities and Exchange Commission and CBN reported about a month ago that the crypto market was too big to ignore.
The agencies will work together to develop a package of laws regulating the cryptosphere. Ultimately, this may contribute to the wider introduction of cryptocurrencies into all areas of Nigerian life.