Browsing: Cryptocurrency

Crypto’s are always in the news with their highs and lows – although recently there have been much greater gains than losses

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.

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.

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.