Nigeria – The People Fight Back Against Central Bank Cryptocurrency Limitations

Nigeria – The People Fight Back Against Central Bank Cryptocurrency Limitations

Nigeria’s central bank recently made headlines enforcing cryptocurrency restrictions on how the country’s banking sector works. Specifically, CBN reminded regulated financial institutions yesterday that a 2017 regulation prohibits them from facilitating cryptocurrency transactions or facilitating payments for exchanges. In a press release meant to showcase the rationale for the restrictions, the bank provided the following: “Cryptocurrencies have become well-suited for conducting many illegal activities including money laundering, terrorism financing, purchase of small arms and light....


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