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Adding, as an unregulated market, there is no legal redress should things go wrong. However, it is still possible to buy btc and convert bitcoin to naira at exchanges; Although bitcoin's legal status in nigeria is a little murky, for now it seems that bitcoin trading is continuing as normal. A quick answer to the question is: It isn't recognised by the government and so is not legal tender, but it is not criminalised and so it is perfectly okay to buy bitcoin should you want to.
Nigeria now world's second largest bitcoin market - Trendy ... from j8t9a5u8.stackpathcdn.com But is bitcoin really illegal? Hopefully the government will clarify its stance in future. Is bitcoin now legal in nigeria : No law in nigeria, ghana, or kenya has made dealing in cryptocurrency illegal or criminalized it, including cryptocurrency trading. Although bitcoin's legal status in nigeria is a little murky, for now it seems that bitcoin trading is continuing as normal. However, in an apparent change of heart, emefiele now says, digital currency will come to life in nigeria. Bitcoin is neither legal or illegal in nigeria. I was recently briefed by a client seeking legal.
However, regulators have shown interest in potentially regulating cryptocurrencies, while some have expressed negative.
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Bitcoin (btc) is a smart cryptocurrency that you can convert into any other currency, usd, eur, or any other currency. Only a legal professional can offer legal advice and buy bitcoin worldwide offers no such advice with respect to the contents of its website. 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 : Adding, as an unregulated market, there is no legal redress should things go wrong. Bitcoin is neither legal or illegal in nigeria.
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However, in nigeria, there are no laws/policies against the use of cryptocurrencies.
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