It’s been a good week for Bitcoin Its status in the eyes federal deposit insurance corporations. (Well, there’s a weird sentence I never thought I’d write.)
On TuesdayThe anti-crypto U.S. Federal Deposit Insurance Corporation (FDIC) Chairman, Martin Gruenberg, announced he’d be stepping down in January.
And yesterday, Heritage FalodunDigiOats’ CEO, Mr. Nigeria’s leading Bitcoin Education and consulting platform, educated members Nigeria Deposit Insurance Corporation (NDIC), about the benefits bitcoin and other digital currencies.
FalodunIndefatigable Bitcoin proponent, spearheaded a seminar for the NDIC entitled “Cryptocurrency Then, you can get in touch with us. Evolving Financial Industry”.
In It was he who highlighted the following:
- Bitcoin Can serve as a reserve for nation states including Nigeria
- Using Banks can reduce settlement times for bitcoin (and other digital currencies).
- Bitcoin Can reduce capital controls as it is censorship resistant
Falodun The team also presented an overview of the evolution and integration of bitcoin and cryptocurrency into traditional financial systems in order to convince NDIC of Bitcoin and crypto’s importance.
“Nigeria must adopt balanced regulations that protect citizens and foster innovation,” Falodun You can tell them by clicking on the link Bitcoin Magazine. “By embracing Bitcoin's uniqueness and engaging the Bitcoin community, Nigeria can lead the global financial revolution.”
Falodun Without properly educating government officials Bitcoin It is possible that the term will be misunderstood, and therefore, it may not be regulated properly.
“I would like regulators to understand that Bitcoin’s decentralized nature is not a flaw to be regulated out of existence, but a feature that offers unprecedented opportunities for inclusion, economic freedom and optimization of financial rails,” he added.
I respect Falodun's efforts.
Before you go calling me a statist or some other silly reductive term, I’d like to remind you that even well-known cypherpunks like Adam Back Some have said that greater equality is part of the struggle. Bitcoin Adoption (and encryption generally) will require engaging with governments (and court).
Proponents The following are some examples of how to use Bitcoin Should acknowledge our current political realities and make the case Bitcoin to those in power if they want to see it flourish — or if they want to at least stop governments from crafting poor policy around Bitcoin Attacking the industry or a sector.
Take A cue to Falodun You can also educate local government officials or members of state-level administrative bodies. FederalAbout -level bureaucrats Bitcoin.
It's one of the most important things you can do to keep your country from falling behind.
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