A Nigerian politician and Bitcoin advocate is fighting for the rights of crypto investors in the country. He’s filed a lawsuit against the government for restricting the ownership, use, and trading of Bitcoin, USDT, and other cryptocurrencies.
Fighting for Crypto Investors’ Rights
The lawsuit, filed in July, challenges the government’s recent crackdown on the crypto industry. The politician, James Otudor, believes that the government’s actions are unfairly targeting people who want to invest in or use cryptocurrencies. He argues that these restrictions violate the rights of Nigerian citizens.
Targeting Key Government Entities
The lawsuit targets several key government entities, including:
- The President of Nigeria
- The Minister of Finance
- The Attorney General of the Federation
- The Central Bank of Nigeria (CBN)
- The Economic and Financial Crime Commission (EFCC)
- The Securities and Exchange Commission (SEC)
- The National Information Technology Development Agency (NITDA)
- The Nigerian Police Force
- The Nigerian Communication Commission (NCC)
Crypto as Property Rights
Otudor’s legal team argues that the right to own property in Nigeria extends to Bitcoin and other cryptocurrencies. They believe that these digital assets are valuable and should be recognized as such.
A “Peaceful Protest” for Crypto Rights
The lawsuit also challenges the government’s restrictions on crypto trading platforms, arguing that these restrictions violate international human rights standards. Otudor sees this lawsuit as a “peaceful protest” to protect the rights of crypto users in Nigeria.
Seeking a Change in the Crypto Landscape
The lawsuit seeks several key outcomes:
- A declaration that protects the rights of Bitcoin users.
- Unrestricted access to online crypto exchange platforms for all Nigerians.
- A declaration that the government’s actions against crypto users are illegal.
- Recognition of crypto assets within the Nigerian financial ecosystem.
The outcome of this legal battle could have a major impact on the future of crypto in Nigeria.
