31 Dec '16, 11am

Opinion: Nigeria Needs Bitcoin Regulation

Twitter Linkedin Facebook Reddit Weibo Nigeria does not need to be one of the countries adopting a wait-and-see approach to regulate Bitcoin use and its adoption if it wants to beat undocumented capital outflow and block a potential means of funding extremists’ activities. Though its existence is still considered a new phenomenon in one of Africa’s largest economies, regulating the world’s top digital currency has to be done and very fast because of the nature of Nigeria’s key problems. Security-wise, particularly in these days of kidnappings and computer hacks for ransom, a lot more is at stake each passing day as the recession-hit country delays in putting measures in place to monitor and study Bitcoin’s use to move funds. It may be hijacked and used in ways that may hamper the nation’s overall interest. Dubbed the currency of the internet, the main ideology behind the d...

Full article: https://www.cryptocoinsnews.com/nigeria-needs-bitcoin-reg...

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