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Nigerian Senators grapple with how to respond to Bitcoin

For the first time — as far as I’m aware — we are watching a sovereign nation grapple with the implications of Bitcoin in live time. Senators convened in Nigeria today to discuss a variety of topics, including cryptocurrency, and openly opined about how to respond to the worldwide decentralized currency…

“Cryptocurrency has become a worldwide transaction of which you cannot even identify who owns what. The technology is so strong that I don’t see the kind of regulation that we can do. Bitcoin has made our currency almost useless or valueless." – Senator Sani Musa— The Nigerian Senate (@NGRSenate) February 11, 2021

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