Bitcoin News
By James Thorp
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Documenting Bitcoin points to how Africa leads the world in peer-to-peer Bitcoin trading volume growth so far this year.
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Someone asked for the source of this statement: Nairametrics reports: “President Buhari can no longer ignore Africa’s largest crypto market.
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Some were like: This is because peer-to-peer sales of Bitcoin is effectively outlawed elsewhere. In the U.S.
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A crypto enthusiast published a statement: Looking at that Crypto was banned in Nigeria this year by the Central Bank.
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However, someone gave a correction to the statement: Financial institutions were banned from officially carrying out crypto transactions.
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It just looks like after El Salvador adopted Bitcoin as a legal tender, many small and developing countries are going to legalize or at least bring rules around Crypto.
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Following the pandemic there has been a rapid increase in the unemployment rates. There are increasing numbers of Nigerians working remotely.
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Africa will be a huge impact in safety Decentralized finance projects like DeFi enabled BTC.
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Critics are like: You underestimate the power of the developed countries. They will continue to exploit the underdeveloped in the long run.
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