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No proof bitcoin, others boost economy— Ronak Gadhia


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No proof bitcoin, others boost economy Ronak Gadhia
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By Nkiruka Nnorom
Ronak Gadhia is the Director of Sub-Saharan Banks & Research, EFG Hermes Frontier. In this interview, he speaks on the ban on cryptocurrency trading in Nigeria, saying that volatility and lack of regulation in the cryptocurrency space could have a significant negative impact on Nigerians in case of sudden correction in the value of the assets.
The Central Bank of Nigeria, CBN, has given reasons for the ban on cryptocurrency in Nigeria. Do you have a contrary opinion?
Apart from the reasons highlighted by the CBN which include that trading in cryptocurrency is unconstitutional, not a store of value, volatility, and speculative risk, I think the CBN may have also been prompted to act due to the potential for perpetuating illegal scams and money laundering activities on the platform. ....

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