Newsletter #4 14th March, 2021. Weeks have passed since the Central Bank of Nigeria(CBN) pronounced its crypto-asset transaction ban policy through a circular dated 5th February, 2021. As if taking a cue from its Nigeria central bank counterpart in the emergent cryptocurrency adoption and mainstreaming competition, the central bank of another Sub-Saharan West African country […]
Newsletter #3 28th February, 2021. Central bank misleads citizens by claim it did not place “new restrictions on cryptocurrencies”. Pursuant to the Nigeria central banking system authority crypto-ban policy pronouncement 5th February, 2021, all regulated Deposit Money Banks(DMBs), Non-Bank Financial Institutions(NBFIs), and Other Financial Institutions(OFIs) were “directed to identify persons and/or entities transacting in or […]
Introduction – CBDCs Many governments dislike Bitcoin, and other cryptocurrencies, because it deprives them of control and surveillance. Cryptocurrencies can be used as a closed loop, i.e. within a closed ecosystem, without ever touching the fiat monetary system. The only problem would be onboarding, because how would the majority of people who do not mine, […]
Lex Futurus Newsletter #2, 12th February, 2021. CBN Crypto Payment Rail and Fiat Payment Rail Disconnection: Will the Regulator Ever Get “Crypto”? The Colossus Apollo at Rhodes 5th February, 2021 the Nigeria central banking system galaxy guardian stood towering high above like the Colossus of Rhodes; a statue of Apollo. This time the banking Colossus […]
Why You Should Order a Legal Opinion Letter for Your Blockchain Crypto-asset Project Lex Futurus Newsletter #1, 29th January, 2021. Crypto-asset projects hardly ever order legal opinion letters to help evaluate projects for purpose to appreciate regulatory hazards that may be lurking in the dark for crypto firm token projects. Beyond these regulatory and court […]
A fundamental aspect of commercial contracts is getting paid. Professional services are rendered for a fee. Products are sold for a price. Products given for free are called a gift. Services rendered for free are volunteer work. It is safe to say people work because they want to get paid. Whether for a salary, or […]
Introduction The coronavirus has a bad impact on businesses. In this article we explore whether crypto can help businesses survive the COVID19 pandemic. We touch on e-commerce, crypto payments, and issuing tokens via IEO. Coronavirus and the cashflow problem Traditional brick-and-mortar businesses depend on customers walking in. But the coronavirus makes it difficult, even dangerous, […]
Regulation of trading and custody of crypto-assets by the German regulator for banks and other financial institutions takes off 1st January, 2020 Germany joins the growing list of European Union (EU) countries, and the entire world institutionalising crypto-assets (“Kryptowerte”), via statutory activities, as the German lawmakers introduced new law to be effective 1st January, 2020. […]
Does the genEOS Secured Token Offering (STO) comply with securities regulations of the world legal jurisdictions?
Check out our legal opinion written by Boulevard A. Aladetoyinbo, esq.