Following the ban on cryptocurrency trading by the federal government through the central bank, Legit.ng in this report looks at some of the countries where Bitcoin has positive reception.
Most of these countries have however tried to prevent or reduce Bitcoin use for illegal transactions, like money laundering.
Legit.ng had also listed some of the countries that banned the use of bitcoin before Nigeria.
Here are the countries where bitcoin is legal
The United States
The United Kingdom
Meanwhile, Legit.ng had reported that the CBN's decision to ban the cryptocurrency-related accounts in all financial institutions across the country has been trailed by a whirlpool of reactions as Nigerians on social media continue to question the logic behind the development.
The controversy-courting decision, which caught Nigerians unaware, was announced in a letter on Friday, February 5.
In a reaction, Nigerians described the move as a deliberate attempt to kill innovation and self-employment, and close the gate to the reality of a digitally-evolving world.
Here are some of the reaction as gathered by Legit.ng.
Popular political analyst and activist, Japhet Omojuwa, wrote:
"They can’t claim crypto traders in Nigeria are faceless. You register with your BVN. You are verified based on KYC principles. This is nothing but a desperate attempt to ensure we are happy with “poverty alleviation” moves. Instead of the wealth innovation brings."
Uloma wrote on Twitter:
"The war against protests, free press, social media, crypto, the unfathomable NIN-SIM linkage order, etc, are all aftermath of #EndSARS For a second, during the protests they had no control over us, now they’re seeking total control of everything and everyone, dead or alive."
Legit.ng had also reported that CBN said it froze the accounts of the affected ENDSARS protesters because they were "involved in suspected terrorism"