http://www.coindesk.com/nigerias-central-bank-calls-for-bitcoin-regulation/
I think CBN calling for regulation is good news for us (http://rupt.co) and other virtual currency projects. Although, some core bitcoin/cryptocurrency fans hate the idea of bitcoin being regulated, it’s a good thing as all stakeholders are clear on where they stand legally as they operate.
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When are you launching your platform?
- We are releasing the platform’s APIs (Beta) next month.
- Full launch in November
- Official wallet service (Beta) in January
We will soon update our website with information about our roadmap and their different launch dates
Very cool, I saw your site few months ago. I’m definitely interested in using your api to offer withdrawal options. (nairatip.com / Nairaex.com) I’m also involved with bitstake.co.
About CBN regulating Bitcoin
I think it’s too early to regulate Bitcoin in Nigeria. Bitcoin is still at a crucial stage in Nigeria and majority of top remittance recipient countries has no Bitcoin laws.
Pervasive & costly will snuff out Bitcoin leading financial innovations in Nigeria. Almost $800 million dollars is pouring into Bitcoin startups this year.
Here’s a quote from India Central Bank
“We have to examine and I would say we shouldn’t intervene strongly until we understand it better,” he said. “But we have to watch it, which means we have to be much more active in gathering market intelligence and in situation where it is clear that it is illegal, to bring it to the notice of law enforcement authorities.”
Great project (nairatip.com). This is the kind of company/idea we hope to make possible or much more accessible. I look forward to our integration.
I agree with this approach. I think this is a good way to let the market grow without introducing possibly damaging regulations on a technology the CBN has little knowledge about (like CBN preventing MNOs from becoming full MMOs).
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I’ll care when they do an even halfway decent job regulating the currency the majority actually uses.
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