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Over the past few years since the invention of the blockchain independent anonymous payment system, lots of giant financial institutions have shown great concerns about these cryptos. Though the continuous warnings of these giant financial institutions have fell on deaf ears over the years, it seems government have now seen reasons to protect their citizens from possible loss of wealth.
In recent years, China, South Korea and India have made adjustments to their regulations as to the use(buying, selling, exchange and mining) of cryptos in their countries. The government of other countries are now picking interest in protecting their citizen.
The Nigerian government law makers recently made a bid to charge it’s central financial institution to look into bitcoin investment and protect Nigerians from loosing wealth in this time of economy recession. According to Premiumtimes at the least three law makers have spoken out against bitcoin and other cryptos.
Senator Benjamin Uwaiumogu(APC, Imo North) said that Nigerians also fell for the MMM, Twinkas and other ponzi scheme which led to many of the citizens been in debt. He further went to explain that “many Nigerians are been persuaded to join and invest in crypto like bitcoin”.
Conclusively, the Nigeria law makers are believed to have sent out instructions to CBN that it should educate Nigerians about bitcoin and other crypto investment.
With various countries going against bitcoin and other cryptos, this could be bad for investors and this might lead to a continuous fall of price and market value of bitcoin and other crypto. Follow us on Twitter and Instagram @mntrendsblog, like our Facebook page “Mntrends Blog” for latest updates.