What is the legal status of crypto in your country?

[Fidelia]

Every country in the world have their own stand regarding the legitimacy or otherwise of crypto. Some countries have outrightly banned crypto while others are trying to give it a look in.

What is the legal status of crypto in your country as at now?

 

[Suba]

The legal status of crypto in your country is as a commodity, meaning that crypto can be bought and sold or traded on crypto exchanges and crypto can also be used as an investment instrument without government intervention, but crypto is prohibited from being used as a means of payment.

 

[eLdavis]

In Nigeria the use of crypto currency is not banned, rather the government is trying to regulate it.

 

[Suba]

In Nigeria the use of crypto currency is not banned, rather the government is trying to regulate it.

If the use of crypto in Nigeria is not banned, is it used as legal tender, which means many stores accept crypto payments.

 

[eLdavis]

If the use of crypto in Nigeria is not banned, is it used as legal tender, which means many stores accept crypto payments.

No, while it is not banned, it's rare to see a store here that uses crypto. It is mostly individual that trade with it.

 

[Kross]

It would take a whole lot to convince a regular Nigerian trader to take payment in crypto. They are still battling with accepting payments in bank transfers.

 

[Pearl]

My country is actually confused about their stand on crypto. I don't know the legal status of crypto in my country because the government is doing back and forth with that.