Swirge Network Registers in the UK, To Move Operations Out of Nigeria Owing to Regulatory Uncertainty.

* Swirge cites government tyranny as reason for leaving.
* Unhealthy business environment.

Swirge Network has announced their move from the Nigerian business environment after registering in the United Kingdom. The firm published a Twitter post announcing this move. Swirge cited the uncertainty and unexpected regulatory factors in the Nigerian state as the reason.

And thus it has taken the bold step to prevent facing issues with the tyrannic government and to protect its users and investors. 

Swirge is officially registered in the United Kingdom 🇬🇧

Due to uncertain and unexpected regulatory factors in 🇳🇬 we’ve taken a bold step to prevent facing issues with Tyranny governments and to protect our users and investors!#KeepitOn #June12thProtest https://t.co/TdSy25vimU

— Swirge (@Swirgenetwork) June 12, 2021

It said it has officially been registered in the United Kingdom 

Swirge further said it’ll be moving it’s Headquarters to suitable African countries that support freedom of speech and that respects development and progress. 

We will be moving our HQ to suitable African countries, that support freedom of speech and respects development and progress.

💬 Telegram; https://t.co/IV4dIvjGxz#KeepitOn #June12thProtest

— Swirge (@Swirgenetwork) June 12, 2021

The decision of Swirge may have been influenced by several factors ranging from the prohibition of the financial institutions from facilitating cryptocurrency transactions, SEC’s position on all cryptocurrency as Securities to other issues, but it seemed the trigger may have been the suspension of Twitter by the Federal government of Nigeria after Twitter censored a tweet made by the Nigerian President.

Reception 

Responses from the Swirge community project positive sentiments over the decision to move business operations outside the country. 

A twitter user name Sofia Caleb said “Great one guys. You have taken a good step. Congrats and good luck”

Great one guys
You have taken a good step
Congrats and good luck 👍

— Sofia Caleb (@Isabellacypto) June 12, 2021

Another one, Kelvin Jeremy said “Swirge to the United kingdom where it can be accepted without any restrictions #Freedom Good luck team” 

Swirge to the United kingdom where it can be accepted without any restrictions #Freedom
Good luck team

— Jeremy Kevin (@A_lex_ander1) June 12, 2021

Samuel Saint contributed saying “This is indeed a bold step taken..I’m proud of the zeal and enthusiasm put in place for the  progress of this project.” 

This is indeed a bold step taken..I'm proud of the zeal and enthusiasm put in place for the progress of this project.

— Samuel Saint (@Itz_psalms) June 12, 2021

What’s the fate of local crypto start-ups with global investors and users? Share your comments below?