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Nigerian Gov Passes Law Recognizing Bitcoin As A Securitywww.forbes.com/sites/digital-assets/2025/04/30/nigerian-gov-passes-law-recognizing-bitcoin-as-a-security/
484 sats \ 5 comments \ @KenyaCoin 3 May bitcoin
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155 sats \ 1 reply \ @TNStacker 3 May
But it is not a security! It is a peer-to-peer electronic cash system!
Read the Bitcoin Whitepaper!!!
STACK SATS AND STAY HUMBLE 🫡
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43 sats \ 0 replies \ @KenyaCoin OP 3 May
The author of the article did mention that:
For Bitcoin entrepreneurs in Nigeria, the Act is a welcomed change. However, sentiment is split evenly between relief and trepidation from the potential negative consequences introduced by the (mis)classification of Bitcoin as a security
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42 sats \ 0 replies \ @sudonaka 3 May
genius
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26 sats \ 0 replies \ @BlokchainB 3 May
Governments wrong again
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22 sats \ 0 replies \ @KenyaCoin OP 3 May
The absence of almost any regulation previously cause many exchanges to stay completely out of Nigeria, and many of those that took the risks have suffered due to selective enforcement of money laundering regulations (e.g. Binance).
At least now there's a path to follow:
Heritage put it best when asked about the outlook for Nigerian Bitcoin builders, “these are necessary growing pains if we're truly committed to transforming how Africans send and receive value globally.”
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