Live Covid-19
United States 89,360,080
Cases: 89,360,080
Deaths: 1,042,678
Recovered: 84,916,391
Active: 3,401,011
India 43,471,282
Cases: 43,471,282
Deaths: 525,139
Recovered: 42,836,906
Active: 109,237
Brazil 32,358,451
Cases: 32,358,451
Deaths: 671,466
Recovered: 30,846,850
Active: 840,135
France 31,083,859
Cases: 31,083,859
Deaths: 149,533
Recovered: 29,620,989
Active: 1,313,337
Germany 28,293,960
Cases: 28,293,960
Deaths: 141,189
Recovered: 26,702,200
Active: 1,450,571
United Kingdom 22,720,345
Cases: 22,720,345
Deaths: 180,330
Recovered: 22,145,429
Active: 394,586
Italy 18,523,111
Cases: 18,523,111
Deaths: 168,353
Recovered: 17,469,969
Active: 884,789
Russia 18,433,394
Cases: 18,433,394
Deaths: 381,165
Recovered: 17,861,605
Active: 190,624
South Korea 18,368,857
Cases: 18,368,857
Deaths: 24,555
Recovered: 18,204,741
Active: 139,561
Turkey 15,123,331
Cases: 15,123,331
Deaths: 99,032
Recovered: 15,005,249
Active: 19,050
Spain 12,734,038
Cases: 12,734,038
Deaths: 107,906
Recovered: 12,218,358
Active: 407,774
Vietnam 10,746,470
Cases: 10,746,470
Deaths: 43,087
Recovered: 9,681,318
Active: 1,022,065
Argentina 9,367,172
Cases: 9,367,172
Deaths: 129,070
Recovered: 9,163,334
Active: 74,768
Japan 9,329,520
Cases: 9,329,520
Deaths: 31,281
Recovered: 9,135,363
Active: 162,876
Netherlands 8,184,179
Cases: 8,184,179
Deaths: 22,378
Recovered: 8,063,483
Active: 98,318
Australia 8,162,153
Cases: 8,162,153
Deaths: 9,930
Recovered: 7,905,095
Active: 247,128
Iran 7,238,126
Cases: 7,238,126
Deaths: 141,389
Recovered: 7,062,657
Active: 34,080
Colombia 6,175,181
Cases: 6,175,181
Deaths: 140,070
Recovered: 5,984,546
Active: 50,565
Indonesia 6,090,509
Cases: 6,090,509
Deaths: 156,740
Recovered: 5,916,854
Active: 16,915
Mexico 6,034,602
Cases: 6,034,602
Deaths: 325,716
Recovered: 5,192,957
Active: 515,929
Poland 6,015,634
Cases: 6,015,634
Deaths: 116,429
Recovered: 5,335,673
Active: 563,532
Portugal 5,171,236
Cases: 5,171,236
Deaths: 24,149
Recovered: 4,745,321
Active: 401,766
Ukraine 5,017,038
Cases: 5,017,038
Deaths: 108,638
Recovered: 4,906,519
Active: 1,881
North Korea 4,744,430
Cases: 4,744,430
Deaths: 73
Recovered: 4,736,220
Active: 8,137
Malaysia 4,566,055
Cases: 4,566,055
Deaths: 35,765
Recovered: 4,500,856
Active: 29,434
Thailand 4,525,269
Cases: 4,525,269
Deaths: 30,667
Recovered: 4,470,490
Active: 24,112
Austria 4,438,883
Cases: 4,438,883
Deaths: 18,792
Recovered: 4,314,940
Active: 105,151
Israel 4,344,800
Cases: 4,344,800
Deaths: 10,958
Recovered: 4,259,884
Active: 73,958
Belgium 4,225,222
Cases: 4,225,222
Deaths: 31,903
Recovered: 4,122,858
Active: 70,461
South Africa 3,993,843
Cases: 3,993,843
Deaths: 101,793
Recovered: 3,880,462
Active: 11,588

Regulatory Challenges in Cryptocurrency

Regulatory Challenges in Cryptocurrency

ABSTRACT

The study examined regulatory challenges in cryptocurrency with particular reference to the first bank Nigeria Plc. The study specifically examined the effect of Bitcoin (BTC) payment system, Litecoin (LTC) payment system, Ethereum (ETH) payment system, and Bitcoin Cash payment system on the profit for the year of first bank Nigeria Plc. Data for the study was sourced through annual reports and accounts of first bank Plc for a period of 10 years, data collected were analyzed using multiple regression analysis. The result of the analysis shows that Bitcoin (BTC) payment system has a positive and significant effect on the profit for the year of the first bank Nigeria Plc. It was also observed that Litecoin (LTC) payment system has a negative significant effect on the profit for the year of first bank Nigeria Plc. The study further shows that there is a negative effect of Ethereum on Profit for the year of first bank Plc. The study further indicates that Bitcoin Cash has a positive and significant effect on Profit for the year of first bank Plc. Several financial regulatory authorities and institutions issued casual warnings to the general public, advising of the risks of involvement in digital currencies; however, digital currencies (especially cryptocurrencies) are thriving since the number of businesses and persons who accept them as payment is increasing by the day. A significant number of people are now fully convinced that the digital currency Bitcoin is legitimate, safe, and has value. “Bitcoin is going to be transformative” but unfortunately, since it is virtually untraceable it has been used for a host of nefarious purposes. Although, digital currencies may be very attractive to cybercriminals and fraudsters and present a host of new challenges to law enforcement in Nigeria, its adoption as a tool for national development in the digital age should be widely encouraged. According to forecasts from Statistic, by 2021 the size of the blockchain technology market will grow to over $2 billion

Keywords: Cryptocurrency, Etherum, Bitcoin, Litecoin

Authorship

Ojiakor, Ijeoma PhD; Ihegboro, Ifeoma M. PhD; and Onah, Vitalis C. PhD | Full PDF

Categories: