He explained that Olympus hosts weekly seminars to educate people on opportunities while working on creating a tech hub to train Nigerians on financial technology and blockchain applications.
The Head of Media and Publicity of the commission, Wilson Uwujaren, disclosed this in a statement on Friday in Lagos.
The main reason behind the steps taken by the Nigerian regulator was to try to crack down on cryptocurrencies in the country
While the number of household name businesses that accept cryptocurrency as payment is still relatively small, it is growing all the time
Crypto’s are always in the news with their highs and lows – although recently there have been much greater gains than losses
Given that Nigeria has been one of the largest cryptocurrency markets in the world over the last few years, this sent shockwaves not just through the Nigerian crypto community, but the global crypto community
This payment system is uniquely built to address most issues currently experienced by existing blockchain and cryptographic systems as it prides itself to be safe, secure and super fast in consummating transactions.
The news agency cited an unnamed senior government official, who has direct knowledge of the bill, as saying the bill would criminalise possession, issuance, mining, trading and transferring cryptocurrencies.
Prof. Osinbajo stated this in a keynote address delivered virtually at a one-day economic summit organised by the Central Bank of Nigeria, Banker’s Committee andVanguard Newspaper, themed: “Bankers’ Initiative for Economic Growth.”
The anti-graft agency, which revealed this on Tuesday, thus backed the decision of the Central Bank of Nigeria to ban the use of Cryptocurrency by Financial Institutions
The fraud was perpetuated through the usage of Cryptocurrency.
The lawmakers also invited the Security Exchange Commission for further information on the issue.
Yet, it’s robust enough as to allow two people anywhere in the world to exchange value across the internet at the tap of buttons. And herein is the danger. Because of its shadowy and virtual nature coupled with its unobtrusiveness, being able to cut off third party control and regulation, it has become a handy tool in the hands of terrorists, their promoters and those merchandising from the deadly and capital-intensive terror ring.
Senator Manny Pacquiao launched his very own cryptocurrency on Sunday at a free concert in Manila, where he serenaded more than 2,000 fans to drum up interest in the product.
Speaker of House of Representatives, Femi Gbajabiamila, has called for appropriate regulatory framework to guide the use of cryptocurrency in the country.
A press release issued by the Bank on Wednesday, February 28, 2018, reiterated that cryptocurrencies such as Bitcoin, Ripples, Monero, Litecoin, Dogecoin, Onecoin, etc and Exchanges such as NairaEx were not licensed or regulated by the CBN.
SureRemit is a non-cash remittance platform using blockchain technology to help immigrants earmark and send funds home.