🔤igeria🇳🇬: Amid Central Bank Inspections, Cryptocurrency Exchanges Suspend USDT and USDC Purchases in Naira

🔤igeria🇳🇬: Amid Central Bank Inspections, Cryptocurrency Exchanges Suspend USDT and USDC Purchases in Naira

The regulator is intensifying its focus on cryptocurrency platforms; however, there is uncertainty about how to proceed. The simplest solution would be to ban them altogether, but the reality is that 47% of Nigeria's citizens engage in cryptocurrency transactions.

🟢 At the moment, users are facing challenges accessing the websites of popular platforms, including Coinbase, Quidax, and Binance.

🟢 The Central Bank's governor (CBN), Olayemi Cardoso, stated that around 26 million USD passed through Binance-Nigeria from unknown sources and users.

🟢 Since February 2023, the devaluation of the naira in relation to the USDT is 113.1%. The regulator has expressed confidence that cryptocurrency speculators are responsible

🟢 Two executives have been arrested, holding high positions in the cryptocurrency exchanges... However, "Cryptonews" clarifies that the information has not been verified.

🟢 "The office requested that we refrain from wearing Binance t-shirts and caps and from attending Binance-related events," shared a Binance employee who preferred to remain anonymous told TechCabal.

🟢 At least five prominent figures in the crypto space declined to comment on this story, citing concerns about regulatory implications.

#Africa #news #crypto