The war between the government and crypto in my country

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(Edited)

I remember in 2019-2021 when the rumors were going around that the federal government would be banning cryptocurrency in the country, I was not moved then because I was not into crypto but I feel for most people who are then, I have lots of friends who were into crypto and invested deeply into cryptocurrency at that time but the issues were settled and everything was back to normal

In life rich people tend to oppress the poor ones because this is not the first time crypto is coming to the country and this is what is helping most of the youths in my country, most of the youths get involved in crypto because of lack of jobs and rather than sitting at home or doing something illegal people started to find ways to make money.

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Crypto is legal in many countries but I do not know why my country finds it so difficult to understand that this is legit and is not an act of fraud, they do believe that since the youths are no more on the street to beg for daily bread then they are into something fishy.

Why won't our government understand our situation for once and make life easier for the youth, must we start to beg or involving in some dirty jobs before they will have sense, crypto is one of the biggest ways that makes most youth free from poverty and be able to feed themselves and safe them from depression.

For about two weeks now I have been reading news online that the Nigeria government banned Binance and fined them a whooping sum of $10 Billion all for what, I read that Binance is a fraud that allows money laundering According to them, this is another way of taking binance out of the way because they know vividly that Binance will not dance to their tune.

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This Binance issue is not all about them, they are looking for a way to disrupt the youth's activities because I do not know what cryptocurrency has to do with the economy of the country, they leave what they ought to fight for and started another one, they never solve the problem in the country because I am so much Binance is not one of the major problems we are facing in this country.

How is this affecting my life

For once I do not shake, I am someone who will always get agitated about news like this but when I saw the news I was just laughing because I was not moved, that will never weigh me down, I believe if one way is closed, millions of way will be open, "Naija no dey carry last" another way will be open soon, our government can never frustrate us because we have targets and we are not who we used to be in the past.

How is it affecting my trading

Truth be told I have not traded for months now, so I do not really feel the effect of trading now because I have offline jobs that bring in money for me. But what of people who depend on cryptocurrency to survive, I do not really know how it will be so easy for them because I put myself in their shoes and now I know how it pinches.

Possible solutions

I think our government should lift the ban on Binance and make cryptocurrency legal in the country so that life will be convenient for everyone in the country especially the youths who based their lives on crypto.

This is my entry for this week's episode of hivelearners community prompt of #hl-w104e2 which is tagged "CRYPTO NEWS" and my response to #marchinleo prompt

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11 comments
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Lol, the government of our country just always finds a way to frustrate it's citizens, but we come out stronger everytime dear. Many countries have start adopting the use of cryptocurrency and are adding it into their financial discussion. Let's just hope Nigeria would get there soon. As for the case of Binance, we have another reliable alternative in the OKX exchange, you can check it out, as it supports the P2P feature.

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Waoo that it so good I will check it out, thank you dear

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I agree with you such a nice write up

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Till now, I still don't understand what the allegations leveled against binance are. I mean the convincing details. The government is bereft of ideas to improve governance and better the lives of the people. They always find who to blame except themselves. Like you said, Nigerians will find a way around whatever harsh policy they come up with. We are a very resilient people.

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