Binance to discontinue Nigerian currency services as legal squabble deepens
Loading player...
GUEST – Maurice Madiba - Head of Primary markets at the JSE
The world’s biggest cryptocurrency exchange Binance is halting operations in Nigeria’s naira currency as
the government puts cryptobusinesses under increasing scrutiny. The decision came after authorities in Africa’s biggest economy-imposed restrictions on cryptocurrency exchanges as part of attempts to halt the sliding value of the local currency. Nigeria’s
central bank governor, Olayemi Cardoso, said at the end of last month that cryptocurrency exchanges were conduits for money laundering.
The world’s biggest cryptocurrency exchange Binance is halting operations in Nigeria’s naira currency as
the government puts cryptobusinesses under increasing scrutiny. The decision came after authorities in Africa’s biggest economy-imposed restrictions on cryptocurrency exchanges as part of attempts to halt the sliding value of the local currency. Nigeria’s
central bank governor, Olayemi Cardoso, said at the end of last month that cryptocurrency exchanges were conduits for money laundering.
