33 - klarki
 

I see, so I guess the law in the Philippines and Indonesia is quite similar then? Kinda surreal to see my country's laws are clearer than our neighboring country (albeit a bit far, geographically) despite the subject being relatively new. Not sure if it shows they don't bother researching crypto that much or if they decide it is easier to make the laws quite relaxed as long as they can get taxes from the industry as soon as possible. Anyway, let's see what kind of framework will they introduce. Being too detailed can discourage international business too afaik.

The gambling industry has been growing exponentially for the past many years and it is online type of gambling that can be making big record of revenues and I am sure this can be true in all countries where gambling is regulated and allowed by the government to flourish. Gambling is one of the biggest sources of tax and that is why even if the government can foresee the many ill-effects of gambling they still allow them to operate. Just like other bad vices like smoking, overeating, drinking alcohol, there are many people who are addicted to gambling even allowing themselves to be destroyed in the process. One thing for sure is that the government has the big responsibility to control the spread of gambling but it is, of course, a big failure on this aspect as it is the receiving end of money coming from the gambling industry. Now, the best way to mitigate and control gambling falls on the family where education should start. The problem is that we have many failed families in the society that left many young people get swallowed by destructive vices. I am not sure if our education system is playing a big role in educating their students on the many side effects of gambling or they are just turning a blind eye to this issue. In summary, all of these situations can mean one thing: gambling is a good business to get into as more and more people are falling prey to its trap.

Instead, they are telling all exchanges to delist Naira from their exchange, and the EFCC have also told airports not to use dollars again but Naira. Will this revive our dying currency to start gaining value over dollar, or the focus on production should be handled urgently.

Some news also suggests they think crypto or P2P is the culprit for this forex manipulation if I recall correctly. Sounds like the deflation is worse than I thought if they keep bleeding like this. I'm not an expert by any means but if there's no reason to invest in the country because they don't produce anything, I think there's no reason for the market to value their fiat currency that much. Sounds like there are complex issues and the only way to untangle the mess is by finding the right person to steer the government, which is probably a hard thing to do[1]. CMIIW.

[1] https://punchng.com/why-naira-continues-to-lose-value/

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