Crackdown on cryptocurrency exchanges: Binance will stop services in Nigerian naira after March 8 : Orishas-finance

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Crackdown on cryptocurrency exchanges: Binance will stop services in Nigerian naira after March 8

06/03/2024

Source : ORISHAS-FINANCE

Categories: Economy/Forex

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Crackdown on cryptocurrency exchanges: Binance will stop services in Nigerian naira after March 8

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As part of a Nigeria-wide crackdown on cryptocurrency exchanges that have been accused by authorities of fueling a black market for foreign currencies, Binance is going to stop all transactions and... Exchanges in the local currency of Nigeria after 8 March.

The Binance cryptocurrency will stop supporting withdrawals after next Friday and any remaining Nigerian naira balance will automatically be converted to Tether, a stablecoin whose value is pegged to the US dollar. In fact, the Nigerian authorities arrested two senior Binance executives for undisclosed reasons as part of the crackdown

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