Ironically, on Wednesday the Fed’s real-time settlement system FedWire went offline for a number of hours. Many financial institutions (including crypto exchanges) were stopped in their tracks as the system went down – an event the technology of which Bitcoin hasn’t experienced in the last 2,907 days.
Trading with Bitcoin has gained traction globally and in Nigeria lately; and most young people have been investing in the cryptocurrency world, buying and selling bitcoin and altcoins making profit for themselves.
But the apex bank is clearly not a fan of crypto currencies.
In a statement signed by Bello Hassan, Director of Banking Supervision; and Musa Jimoh, Director of Payments System Management Department, the CBN said:
"Further to earlier regulatory directives on the subject, the bank hereby wishes to remind regulated institutions that dealing in crypto currencies or facilitating payments for cryptocurrency exchange is prohibited.”
1/22/2021 0 Comments
“President Biden is signing two executive orders on Friday, one of which would increase federal food assistance and streamline the delivery of , as the president attempts to stabilize the economy without congressional assistance”
According to a a statement, the paper certificate will be “replaced with an admission in a very central securities repository or a register unbroken by private-sector banks.” The report speculates that this implies “a registration in a crypto securities register supported blockchain technology is now also possible.” A German organization says the law would supply legal clarity and enhance the potential of the new Blockchain technologies.
Bitcoin’s 2020 surge has paid mighty profits to anyone who invest their stimulus check in it. Could traders be fortunate enough to invest the spare cash in Bitcoin and hopefully repeat the surge if we get another round of payments?
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