The Central Bank of Nigeria (CBN) last week ordered banks to close the accounts of any entity using cryptocurrencies. Now, the institution justifies its actions with a list of reasons. According to a February 8th report by Nigerian news outlet The Nation, the local central bank’s acting director of

Obi Nwosu is the CEO and co-founder of Coinfloor, the UK's longest-running Bitcoin exchange. He has over 20 years’ experience building online marketplaces and bringing virtual currencies to tens of millions of people. Obi writes The Road to Bitcoin Hegemony, a weekly recap of some of the most

Bitcoin is highly speculative, "hugely energy-intensive," lacks "value backing," and "may well break down altogether"—this is how Bank for International Settlements General Manager Agustin Carstens summarized his opinion on Bitcoin at a policy seminar by The Hoover Institute on Wednesday. In his talk

In a written response to the Senate Finance Committee on Thursday, Janet Yellen elaborated on her view of Bitcoin and other cryptocurrencies, to which she attributes the potential to "improve the efficiency of the financial system." Former Federal Reserve chair Yellen has been nominated by President-Elect Biden to

Obi Nwosu is the CEO and co-founder of Coinfloor, the UK's longest-running Bitcoin exchange. He has over 20 years’ experience building online marketplaces and bringing virtual currencies to tens of millions of people. Obi writes The Road to Bitcoin Hegemony, a weekly recap of some of the most

In late December, the U.S. Treasury's Financial Crimes Enforcement Network (FinCEN) released a proposed cryptocurrency regulation, as had been rumored previously. The document indicated that, if adopted, virtual asset service providers would need to verify the name and address of non-custodial wallet users for any transaction exceeding

In late November, Coinbase chief executive Brian Armstrong warned that the U.S. Treasury was looking to crack down on "self-hosted" cryptocurrency wallets. Armstrong suggested that from what he has heard, the Treasury was going to mandate exchanges to take the information of users looking to withdraw capital

Obi Nwosu is the CEO and co-founder of Coinfloor, the UK's longest-running Bitcoin exchange. He has over 20 years’ experience building online marketplaces and bringing virtual currencies to tens of millions of people. Obi writes The Road to Bitcoin Hegemony, a weekly recap of some of the most