Binance to convert all Naira holdings to USDT on March, 8. | Discussion Bucks

Binance to convert all Naira holdings to USDT on March, 8.

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King Belieal

King Belieal

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Binance has issued a statement that it is completely parting ways with anything that has to do with the Nigerian Naira. Any user that had Naira funds would find it as USDT after March, 8 because it would be automatically converted.

Binance and Nigerian youths were a love made in heaven but things happen.
 
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LoL I don't blame binance for making this decision though, the Nigeria government is just frustrating them. They once made a similar move like this in the past but it still did not help how dollars increased against naira, yet they are still making the same move again.
 
The government thought that Binance would come and beg them so that they can continue their operations. I think Binance is ready to negotiate but won't beg Nigerian government.
 
There is one thing that we have remained mute about for a very long time, Why is it that the Nigerian government operates the country like it is run by a military government? I feel that the citizens have a financial choice on what type of investment and where they can make it from. The government cannot just impose on the general citizens.

The cryptocurrency space with the right information can make one earn something that can make them self-sustainable. All the government should have done is put up regulations that ensure a win-win for the ordinary citizens and the government. If you ask me I would say cryptocurrency investments are better than Betting, Casinos. Go into the Main Central business area and you will find that it is littered with Casinos but why can't they ban those as well? The government also trades just like the way banks trade. It is time the government gives financial power in the hands of the people. The Noones dot com CEO already said that no one in the world can stop peer-to-peer transactions, Let the money be in people's own hands where they can get to determine faster ways of sending and receiving and in a cheaper manner than Western Union, MoneyGram etc.
 
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Carson20t said:
There is one thing that we have remained mute about for a very long time, Why is it that the Nigerian government operates the country like it is run by a military government? I feel that the citizens have a financial choice on what type of investment and where they can make it from. The government cannot just impose on the general citizens.

The cryptocurrency space with the right information can make one earn something that can make them self-sustainable. All the government should have done is put up regulations that ensure a win-win for the ordinary citizens and the government. If you ask me I would say cryptocurrency investments are better than Betting, Casinos. Go into the Main Central business area and you will find that it is littered with Casinos but why can't they ban those as well? The government also trades just like the way banks trade. It is time the government gives financial power in the hands of the people. The Noones dot com CEO already said that no one in the world can stop peer-to-peer transactions, Let the money be in people's own hands where they can get to determine faster ways of sending and receiving and in a cheaper manner than Western Union, MoneyGram etc.
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Government won't ban casinos because they make enough money from taxing casinos. Casinos all over the world pay the highest tax rates in every country. What the government don't know is that they failed in creating employment, the poor youths created employment for themselves and government takes that away from them. A revolution would solve this.
 
@King Belieal Yes a good revolution where debates are sparked on merit and the government is challenged that there is no need to hold the ordinary citizens at ransom at the expense of their financial freedom. Everyone is getting rich and why should the poor remain extremely poor? We want a self-sustainable Nigeria and Africa by and large. So people have seen the value of having financial inclusivity. So why infringe on their Democratic right? It is a shame you know.
 
They start by removing RUB and then they go to remove NGN currency. What could be the next fiat currency removed from Binance?
 
Nigeria government think Binance is contributing to naira continous deteriorating condition. But they did not realize that millions of dollars are entering Nigeria everyday. A lot of countries that have come hard on cryptocurrency are rethinking their position because crypto is money for the future.
 
magnus2022 said:
Nigeria government think Binance is contributing to naira continous deteriorating condition. But they did not realize that millions of dollars are entering Nigeria everyday. A lot of countries that have come hard on cryptocurrency are rethinking their position because crypto is money for the future.
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That is the saddest part.
 
The CEO of Binance doesn't want to be soft. I know that strategy. This would be resolved in due course. It might take the next 6 months to 1 year. Binance doesn't want to appear soft before the Nigerian government. I am sure negotiations are still underway already.
 
As of today, one can't fund the Binance wallets with Naira all because of the witch hunting that the government has against Binance.
 
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