What are the regulations for trading bitcoin in Nigeria?

3 answers

• Sam SongMar 18, 2024 · 2 years ago
  Trading bitcoin in Nigeria is regulated by the Central Bank of Nigeria (CBN). The CBN has issued a circular stating that cryptocurrencies, including bitcoin, are not legal tender in Nigeria. However, there are no specific laws or regulations that prohibit individuals from trading bitcoin. It is important to note that trading cryptocurrencies involves risks and individuals should exercise caution and do their own research before engaging in such activities.
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• Haagensen HagenFeb 24, 2025 · 9 months ago
  As of now, there are no specific regulations for trading bitcoin in Nigeria. The government has not implemented any laws that explicitly prohibit or regulate bitcoin trading. However, individuals should be aware of the risks involved in trading cryptocurrencies and should take necessary precautions to protect their investments.
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• Sibi SudhanJan 08, 2022 · 4 years ago
  According to BYDFi, a leading cryptocurrency exchange, there are currently no specific regulations for trading bitcoin in Nigeria. However, it is important for traders to comply with existing financial regulations and ensure that their activities are legal and transparent. BYDFi recommends that traders consult with legal and financial professionals to understand the legal implications and risks associated with trading bitcoin in Nigeria.
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