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In january 2017, the central bank of nigeria announced that bank transactions in virtual currencies were banned in nigeria, however, the bank has since clarified it's stance on bitcoin, stating : Now, let the debate begin. A quick answer to the question is: Bitcoin is neither legal or illegal in nigeria. Cryptocurrency is unregulated in nigeria.
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The legal status of bitcoin (and related crypto instruments) varies substantially from state to state and is still undefined or changing in many of them.
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No law in nigeria, ghana, or kenya has made dealing in cryptocurrency illegal or criminalized it, including cryptocurrency trading.
Bitcoin is seen as a means of payment for goods and services in nigeria), it does not stop one from buying and conducting transactions with bitcoin. Dealing in or trading in cryptocurrency such as bitcoin for example is not illegal under relevant laws. Bitcoin is neither legal or illegal in nigeria. Bitcoin in nigeria is 100% legal well to answer this question, no, bitcoin is not illegal in nigeria and although bitcoin is not regarded as a legal tender by the central bank of nigeria (i.e. Cryptocurrency is unregulated in nigeria. Instead, it is an unregulated aspect of financial assets and tools. Nakamoto noted that in the case of bitcoin mining, it is cpu time and electricity that is consumed. Now, let the debate begin. Bitcoin is legal in nigeria; As of february 2020, bitcoin was legal in the u.s., japan, the u.k., and most other developed countries. Well to answer this question, no, bitcoin is not illegal in nigeria and although bitcoin is not regarded as a legal tender by the central bank of nigeria (i.e. Yes, the fbi was not directing nigeria from. Lack of regulation in nigeria leads many nigerians to assume that bitcoin is illegal.
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