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VP Osinbajo Tells CBN to regulate cryptocurrency instead of banning it.

Vice President, Yemi Osinbajo has said digital currencies ought to be controlled in Nigeria as opposed to "killing" it. 

He offered the comments during a feature at the CBN/Bankers Committee's Initiative for Economic Growth. 

The CBN had recently reaffirmed its oppositional position towards digital forms of money, putting limitations on its exchange inside Nigeria. 

Notwithstanding, Osinbajo accepts the CBN and other oversight offices ought to consider directing the monetary innovation as opposed to completely close it down. 

As indicated by the CBN, digital currencies are "gave by obscure and unregulated elements" and are progressively being utilized to lead " numerous criminal operations including illegal tax avoidance, psychological oppression financing, acquisition of little arms and light weapons, and tax avoidance." 

Osinbajo, while appreciating the concern of the CBN, SEC, and other anti-corruption agencies on the possible abuses of cryptocurrencies, opined that the issue should be subjected to further reflection.

"It is obvious to the public authority that we should discover a method of moving the Nigerian advanced economy into overdrive," he said. 

Content created and supplied by: Freshparrot (via Opera News )

Bankers Committee CBN Nigeria. Osinbajo Yemi Osinbajo

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