MemberSeptember 22, 2021 at 4:03 am
They also use it to finance kidnapping, imagine if a kidnapper takes a ransom and converts it into digital currency, it’s always difficult to trace. Cryptocurrencies have become an alternative payment platform for kidnappers and this would be impossible for law enforcement agencies to trace.
“Many people have lost money through cryptocurrency trading unlike in a bank depository scheme where your money is insured incase of any eventuality. But if you lose money in cryptocurrency what insurance do you have? who would you hold responsible? Who is guaranteeing digital currency, you don’t even know the people who created them, they are anonymous.”
The Chairman who also noted some positive aspects of cryptocurrency emphasized on the need for it’s regulations.
Owasanoye said the retreat was organized by the commission to enable it to interface with the lawmakers and intimate them on some of the challenges facing the commission as well as update them on its achievements.
MemberSeptember 22, 2021 at 4:39 am
It is always a risky game. My friend has lost a lot of money because of fraud by a broker website too.