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Nigeria
Nigeria's SEC Updates Guidelines for Crypto Firms in Bid to Stop Criminal Activity: Report
Nigeria's government has started a fresh crackdown on crypto firms, reportedly blocking access to several, including Binance, Coinbase and Kraken.
Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
Binance CEO Richard Teng was summoned by a committee of Nigeria's House of Representatives to appear for an investigation on alleged money laundering and financing of terrorism, according to a report from Punch. CoinDesk Regulator Reporter Camomile Shumba weighs in on the latest news and Binance's plans to discontinue its Nigerian Naira (NGN) services amid increased scrutiny from the country’s regulators.
Binance Will Discontinue Its Nigerian Naira Services After Government Scrutiny
Two Binance executives were recently detained in the country, and the exchange’s CEO Richard Teng, has been summoned to appear before a committee.
Nigerian Parliamentary Committee Summons Binance CEO Teng: Report
Two executives of the exchange were detained last week on arrival in the country.
Nigeria Government Demands $10B From Crypto Exchange Binance: BBC
A spokesperson for the president later denied an amount had been set, People's Gazette reported.
Nigeria Detains Binance Executives as It Investigates the Crypto Exchange: Reports
The detentions are not necessarily arrests, a National Security spokesman told Bloomberg.
Binance Nigeria Moved $26B Worth of Untraceable Funds in 2023, Central Bank Chief Says: Reports
The country's facing a crippling foreign exchange crisis and looking for ways to limit capital outflows, including via crypto.
Bitcoin-Focused Payments App Strike Rolls Out Services to Africa
"Many countries on the continent are grappling with high inflation rates and devaluing currencies, making it challenging for people to save and build wealth," the firm said in a blog post.
Coinbase Pushes Back on Reports It's Blocked in Nigeria
Multiple outlets have reported other platforms such as Kraken and Binance have also been blocked under government orders.
Nigeria’s Central Bank Fleshes Out New Rule Allowing Crypto Firms’ Access to Bank Accounts
Nigerian banks are still restricted from holding or trading crypto on their own behalf, despite regulators’ softening stance toward digital assets.
