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Cryptocurrency is unregulated in nigeria. The central bank of nigeria (cbn) has clarified a statement it issued last month that seemed to order financial institutions to shut down all accounts associated with cryptocurrency trading. This is a branch of online business and you can. While digital currencies haven't been legally permitted in several countries, many are still undecided. On the 25th of august 2017, news broke that the central bank of nigeria has decided that it will formally adopt the in order to regulate its usage, the country passed into law the virtual currency act which regulates the use of.
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According to a report on sunday, bank officials have said the directive is not to be mistaken for an outright ban.
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However, the nigerian market is likely to focus on crypto to the exclusion of other applications of blockchain inasmuch for as long as there's profit to be made in the speculative side of cryptocurrency. another startling indicator of bitcoin underutilization in the city comes from the lack.
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