Legalizing Bitcoin will Coming in Nigerian Bank?

1years ago (2017-02-19) admin BTC News 4488℃

Legalizing Bitcoin will Coming in Nigerian Bank?

Quite a few countries are contemplating how they should treat bitcoin moving forward. Cryptocurrency poses intriguing opportunities, yet it is difficult to regulate as there is no centralized entity controlling the ecosystem. Nigerian banks are contemplating to legalize bitcoin, which would give the popular cryptocurrency a significant boost, to say the least.


It is not the first time someone brings up the concept of Nigerian banks legalizing bitcoin. The same idea was proposed several months ago. Albert no one saw this as a hint of what the future could hold, it would appear various Nigerian banks are thinking along the same lines. This development caught quite a few people by surprise, even though it makes a lot of sense.

An article appeared in The Inquirer, which talks about how the Nigerian Bankers Committee is studying blockchain technology. That is anything but surprising, as nearly every bank around the world is well aware of what distributed ledgers bring to the table. However, there has not been any major product to come forth from this interest so far. Experts predict a few of these blockchain applications will see the light of day in 2017, albeit that remains to be seen for now.

What is more interesting, however, is how the Nigerian Bank Committee still feels bitcoin poses somewhat of a threat the national financial ecosystem. To be more precise, the group touched upon the concept of “dubious virtual currencies flooding the country”. It is not hard to see which projects they are talking about, as OneCoin has become somewhat of a popular concept in Nigeria.

It is evident the Central bank of Nigeria wants to gain a better understanding of bitcoin and its blockchain technology. That open-minded approach can mean big things for cryptocurrency in the country moving forward. Moreover, it only appears to be a matter of time until Nigeria introduces bitcoin regulation, which could occur as soon as this year. Introducing such a regulation would effectively legalize bitcoin in Nigeria, even though the current is not issued by the country’s central bank.

Nigeria is not the only country in the world looking to regulate and legalize bitcoin. Japan will be doing the same later this year, which will bring a lot more legitimacy to cryptocurrency moving forward. Albeit no one can effectively regulate bitcoin itself, governments can impose specific guidelines for companies dealing with customer funds, either in the national currency or bitcoin. Then again, running a financial business will always be subject to specific regulation and bitcoin enterprises should not be exempt from those rules.

Bitcoin regulation does not have to be a bad thing by any means. China’s central bank issued a few new regulatory measures over the past few weeks, which has only helped the bitcoin price stabilizes as time progressed. It is unclear what Nigeria will do exactly when it comes to blockchain and cryptocurrency, but it will be an intriguing situation to keep an eye on.


Follow Us Here Thanks !

Recommended Articles :

72 comment

  1. avatar

    Hello! I just would like to give a huge thumbs up for the great info you have here on this post. I will be coming back to your blog for more soon.

    corburt erilio at2017-03-31 23:44 Comment
  2. avatar

    I quite like reading a post that will make men and women think.
    Also, many thanks for permitting me to comment!

    manicure at2017-04-03 11:20 Comment
  3. avatar

    Thanks for the auspicious writeup. It in truth was once a enjoyment account it.
    Glance advanced to far added agreeable from you! By the way, how can we communicate?

    manicure at2017-04-07 20:42 Comment
  4. avatar

    I simply want to tell you that I’m very new to blogging and site-building and certainly enjoyed your page. Almost certainly I’m want to bookmark your site . You absolutely have superb articles and reviews. Many thanks for sharing with us your website page.

    browse around this site at2017-04-16 23:11 Comment
  5. avatar

    All absolutely free clipart is created by an identical designer. Nowadays you know the best place to locate totally free clipart, you can save a good deal of Googling! AAA Clipart is a superb site on account of the substantial selection of completely free clipart images available there.

    Antione Spraque at2017-04-22 15:54 Comment
  6. avatar

    The URL is needed to figure out the security zone, which is needed to ascertain the condition of the ActiveScripting setting. Completely ad-free, this website is quite easy to navigate and enables you to locate what you need fast. It’s a website that will permit you to really observe plenty of svg files created by very talented people at an affordable price. Everyone can join and add to the undertaking. This facility is known as SVG fonts.

    Tommie Tonge at2017-04-22 16:33 Comment
  7. avatar

    Do you have a spam problem on this blog; I also am a blogger, and I was curious about your situation; we have created some nice procedures and we are looking to trade strategies with other folks, please shoot me an e-mail if interested.

    vetiver essential oil at2017-04-22 16:45 Comment
  8. avatar

    I really hope to notify you that I am new to blog posting and certainly admired your write-up. Probably I am likely to remember your blog post . You literally have fantastic article blog posts. Value it for expressing with us your very own site report

    dig this at2017-04-22 23:43 Comment
  9. avatar

    Really compelling knowledge you have said, thank you for putting up.

    see it here at2017-04-23 04:24 Comment
  10. avatar

    This is convenient opportunity to construct some schedules for the extended term. I have read this write-up and if I can possibly, I want to suggest you couple useful advice.

    look at these guys at2017-04-23 10:17 Comment
  11. avatar

    Exceedingly motivating elements you’ll have mentioned, thank you for putting up.

    discover this at2017-04-23 21:11 Comment
  12. avatar

    Heya there, just became alert to your article through Bing and yahoo, and found that it’s genuinely informational. I’ll be grateful for if you decide to retain these.

    visit at2017-04-24 01:25 Comment
  13. avatar

    I let that do it is actually factor for 24 hrs without resting on that letting that to fill out as well as grow after being wrapped, as was actually suggested.

    memory foam mattress reviews at2017-04-24 07:00 Comment
  14. avatar

    I simply have to reveal to you that I am new to blog posting and very much loved your review. More than likely I am likely to bookmark your blog post . You undoubtedly have wonderful article materials. Delight In it for swapping with us your main domain write-up

    Discover More Here at2017-04-24 10:54 Comment
  15. avatar

    Just wish to say your article is as amazing. The clearness in your post is simply great and i could assume you are an expert on this subject. Fine with your permission let me to grab your feed to keep up to date with forthcoming post. Thanks a million and please carry on the enjoyable work.

    hotel at2017-04-24 14:32 Comment
  16. avatar

    I really appreciate this post. I have been looking all over for this! Thank goodness I found it on Bing. You’ve made my day! Thx again

    holistic medicine at2017-04-24 14:34 Comment
  17. avatar

    I was suggested this website by my cousin. I’m not sure whether this post is written by him as nobody else know such detailed about my trouble. You are wonderful! Thanks!

    business plan at2017-04-24 14:37 Comment
  18. avatar

    Attractive section of content. I just stumbled upon your blog and in accession capital to assert that I acquire in fact enjoyed account your blog posts. Anyway I’ll be subscribing to your augment and even I achievement you access consistently quickly.

    future technology at2017-04-24 14:40 Comment
  19. avatar

    Wow! This can be one particular of the most useful blogs We have ever arrive across on this subject. Basically Fantastic. I am also an expert in this topic therefore I can understand your hard work.

    contractions at2017-04-24 14:42 Comment
  20. avatar

    There is noticeably a bundle to realize about this. I believe you made various good points in features also.

    international flights at2017-04-24 14:45 Comment
  21. avatar

    I do not even know how I ended up here, but I thought this post was great. I do not know who you are but definitely you are going to a famous blogger if you aren’t already ;) Cheers!

    alternative medicine at2017-04-24 14:46 Comment
  22. avatar

    Thanks for every one of your work on this site. Ellie really loves carrying out investigations and it is easy to see why. Almost all learn all regarding the compelling tactic you produce sensible items through your website and as well attract contribution from the others on that topic then our favorite girl is starting to learn so much. Take pleasure in the remaining portion of the year. You are always performing a useful job.

    contractions at2017-04-24 18:04 Comment
  23. avatar

    I’m still learning from you, while I’m improving myself. I absolutely love reading all that is written on your website.Keep the aarticles coming. I loved it!

    flight at2017-04-24 18:06 Comment
  24. avatar

    Good ¡V I should certainly pronounce, impressed with your web site. I had no trouble navigating through all the tabs as well as related information ended up being truly simple to do to access. I recently found what I hoped for before you know it at all. Reasonably unusual. Is likely to appreciate it for those who add forums or anything, web site theme . a tones way for your client to communicate. Excellent task..

    bathroom remodel at2017-04-24 18:13 Comment
  25. avatar

    Thank you so much for providing individuals with an extraordinarily marvellous chance to read articles and blog posts from this blog. It is always very enjoyable and as well , stuffed with amusement for me personally and my office mates to visit the blog at minimum 3 times every week to see the new guidance you have got. And indeed, I’m so actually pleased with the striking strategies you give. Selected 1 points in this posting are in fact the simplest I’ve ever had.

    home improvement loans at2017-04-24 18:15 Comment
  26. avatar

    Hey, you used to write fantastic, but the last several posts have been kinda boring¡K I miss your great writings. Past several posts are just a little bit out of track! come on!

    health insurance at2017-04-24 18:16 Comment
  27. avatar

    This is really interesting, You are a very skilled blogger. I’ve joined your feed and look forward to seeking more of your wonderful post. Also, I’ve shared your website in my social networks!

    business ethics at2017-04-24 18:18 Comment
  28. avatar

    Hey here, just turned familiar with your blogging site through Google, and realized that it is very informative. I’ll take pleasure in in the event you persist such.

    Bonuses at2017-04-24 20:12 Comment
  29. avatar

    you are in point of fact a just right webmaster. The web site loading speed is amazing. It seems that you’re doing any unique trick. In addition, The contents are masterpiece. you have performed a great activity on this subject!

    Travel International at2017-04-25 19:00 Comment
  30. avatar

    But wanna input on few general things, The website style is perfect, the subject matter is very fantastic. “In business school classrooms they construct wonderful models of a nonworld.” by Peter Drucker.

    Business Service at2017-04-25 20:55 Comment
  31. avatar

    Of course, what a magnificent site and educative posts, I will bookmark your site.Best Regards!

    New Auto at2017-04-26 00:09 Comment
  32. avatar

    you’re in reality a good webmaster. The website loading velocity is amazing. It kind of feels that you’re doing any unique trick. Moreover, The contents are masterpiece. you have performed a excellent activity in this matter!

    Computer Mouse at2017-04-26 00:09 Comment
  33. avatar

    It’s the best occasion to get some desires for the near future. I’ve browsed this blog post and if I can possibly, I want to recommend you some great proposal.

    webpage at2017-04-26 01:08 Comment
  34. avatar

    I have recently started a blog, the info you offer on this website has helped me greatly. Thank you for all of your time & work. “My dear and old country, here we are once again together faced with a heavy trial.” by Charles De Gaulle.

    Financial Business at2017-04-26 03:06 Comment
  35. avatar

    Perform yourself a support and also get this one if you’re in the market for a brand-new mattress. This is actually const helpful as well as excellent quality. You can’t go wrong!

    what's best mattress to buy at2017-04-26 07:19 Comment
  36. avatar

    I bookmared your site a couple of days ago coz your blog impresses me.,*,-”

    John Deere Service Manuals at2017-04-26 11:08 Comment
  37. avatar

    Thank you for the sensible critique. Me and my neighbor were just preparing to do a little research on this. We got a grab a book from our local library but I think I learned more from this post. I’m very glad to see such wonderful info being shared freely out there.

    Travel International at2017-04-26 12:27 Comment
  38. avatar

    I merely intend to inform you you that I am new to putting up a blog and genuinely cherished your article. Quite possibly I am likely to store your blog post . You seriously have wonderful article materials. Value it for expressing with us your web information

    important site at2017-04-26 18:48 Comment
  39. avatar

    Noticeably stimulating resources you’ll have mentioned, a big heads up for publishing.

    content at2017-04-26 19:23 Comment
  40. avatar

    I simply have to inform you that I am new to writing and really enjoyed your page. Most likely I am most likely to save your blog post . You definitely have amazing article materials. Acknowledge it for share-out with us the best internet post

    address at2017-04-26 20:11 Comment
  41. avatar

    Hello here, just turned out to be familiar with your blog page through yahoo, and realized that it is truly entertaining. I’ll be grateful if you continue on this.

    my review here at2017-04-26 20:19 Comment
  42. avatar

    Greetings there, just started to be familiar with your website through Google, and have found that it’s seriously educational. I’ll appreciate if you maintain this idea.

    This Site at2017-04-27 08:12 Comment
  43. avatar

    Keep working ,impressive job!

    Travel Guides at2017-04-27 15:42 Comment
  44. avatar

    Hi, i think that i saw you visited my blog so i came to “return the favor”.I am attempting to find things to improve my site!I suppose its ok to use some of your ideas!!

    Travel Hacks at2017-04-27 16:44 Comment
  45. avatar

    Hello, Neat post. There is an issue with your website in web explorer, might check this¡K IE still is the marketplace chief and a good portion of other folks will leave out your excellent writing due to this problem.

    home improvement loans at2017-04-27 18:57 Comment
  46. avatar

    Thanks for another informative website. Where else may just I get that type of information written in such an ideal method? I have a venture that I’m simply now running on, and I’ve been at the glance out for such information.

    international flights at2017-04-27 18:57 Comment
  47. avatar

    Excellent post. I was checking continuously this blog and I’m impressed! Extremely useful information specially the last part :) I care for such information much. I was seeking this certain info for a very long time. Thank you and best of luck.

    drywall repair at2017-04-27 18:58 Comment
  48. avatar

    I am not sure where you’re getting your information, but good topic. I needs to spend some time learning more or understanding more. Thanks for excellent information I was looking for this info for my mission.

    Business at2017-04-27 19:11 Comment
  49. avatar

    I¡¦ve been exploring for a little for any high quality articles or blog posts in this kind of space . Exploring in Yahoo I at last stumbled upon this web site. Reading this information So i am happy to exhibit that I have an incredibly just right uncanny feeling I found out just what I needed. I such a lot surely will make sure to do not disregard this website and provides it a look on a relentless basis.

    Business at2017-04-27 22:36 Comment
  50. avatar

    Truly absorbing points you’ll have said, say thanks a lot for writing.

    click here now at2017-04-28 00:06 Comment
  51. avatar

    The Best place for HTV, Glitter HTV and Cricut Blades!

    Dante Ludtke at2017-04-28 04:31 Comment
  52. avatar

    Hi, i think that i saw you visited my website so i came to “return the favor”.I am trying to find things to enhance my site!I suppose its ok to use a few of your ideas!!

    Business at2017-04-28 06:06 Comment
  53. avatar

    Somebody essentially lend a hand to make critically posts I’d state. That is the first time I frequented your web page and up to now? I surprised with the research you made to create this particular put up amazing. Magnificent job!

    Business at2017-04-28 06:45 Comment
  54. avatar

    Wow! This could be one particular of the most useful blogs We’ve ever arrive across on this subject. Basically Great. I’m also an expert in this topic so I can understand your effort.

    Computer & Technology at2017-04-28 11:00 Comment
  55. avatar

    Hello, you used to write excellent, but the last few posts have been kinda boring¡K I miss your great writings. Past several posts are just a little bit out of track! come on!

    Auto Airconditioning Repair at2017-04-28 13:24 Comment
  56. avatar

    Great purchase for a mattress without awful chemicals. Acquired double measurements for a 4 years of age. It is actually quite relaxed as well as seems effectively made.

    find best mattress you at2017-04-28 14:07 Comment
  57. avatar

    Thank you for the auspicious writeup. It in fact was a amusement account it. Look advanced to far added agreeable from you! By the way, how could we communicate?

    Sports Cars at2017-04-28 17:01 Comment
  58. avatar

    You really make it seem really easy along with your presentation however I to find this topic to be really something which I think I might by no means understand. It seems too complex and very huge for me. I am looking ahead for your subsequent put up, I will try to get the hold of it!

    Used Car Dealerships at2017-04-28 22:09 Comment
  59. avatar

    I just couldn’t leave your web site prior to suggesting that I really enjoyed the standard information a person supply for your visitors? Is gonna be back incessantly in order to investigate cross-check new posts

    Art Pictures at2017-04-28 22:34 Comment
  60. avatar

    I am also writing to let you understand what a cool experience my friend’s girl developed using your blog. She figured out lots of issues, not to mention how it is like to possess a marvelous coaching style to let men and women without problems understand certain specialized subject areas. You actually exceeded readers’ expectations. Many thanks for rendering the useful, trusted, edifying and also fun thoughts on that topic to Lizeth.

    Casual Dating at2017-04-28 22:38 Comment
  61. avatar

    Perform yourself a benefit and get this one if you’re in the market for a brand new mattress. This’s const reliable and also premium. You can’t make a mistake!

    infestation of bed bugs at2017-04-29 00:29 Comment
  62. avatar

    Hiya here, just turned mindful of your blog page through Search engines like google, and realized that it is genuinely entertaining. I’ll be grateful if you decide to keep up these. at2017-04-29 03:06 Comment
  63. avatar

    This is the best time to generate some preparations for the longer term. I’ve study this blog entry and if I may possibly, I want to propose you couple of fascinating instruction. at2017-04-29 07:17 Comment
  64. avatar

    Perfectly composed written content, Really enjoyed looking through.

    Sposoby Poprawy Pozycjonowania at2017-04-29 07:53 Comment
  65. avatar

    Comfy, and also cost effective for someone which needs to have a matress in between firm and also smooth many thanks !! I will obtain from brentwood once again!

    this website at2017-04-30 12:35 Comment
  66. avatar

    I do consider all of the concepts you have presented to your post. They are very convincing and can certainly work. Nonetheless, the posts are very brief for starters. May just you please lengthen them a bit from subsequent time? Thanks for the post.

    Exploration Careers Information at2017-04-30 17:44 Comment
  67. avatar

    I was reading through some of your posts on this site and I think this website is rattling informative! Keep on posting.

    Business Information Data Financial at2017-04-30 18:11 Comment
  68. avatar

    Fantastic beat ! I would like to apprentice while you amend your site, how could i subscribe for a blog website? The account helped me a acceptable deal. I had been tiny bit acquainted of this your broadcast offered bright clear concept

    Exploration Careers Information at2017-04-30 21:09 Comment
  69. avatar

    Very interesting subject, appreciate it for putting up.

    Auto Repair Advice at2017-05-01 11:29 Comment