Tag: Nigerian

Designating Crypto as the Bogeyman Will Not Halt the Nigerian Currency’s Depreciation

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Labeling cryptocurrency a scapegoat, similar to blaming parallel market traders for the Nigerian currency’s woes, will not solve the underlying problems. Proactive preparation for consequential innovations is far preferable to reactive measures. The blockchain and crypto industry is still young, and there’s time for Nigeria to establish regulatory frameworks to govern its participants. Nigeria’s Currency […] Source link

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Nigerian Senate Committee: Regulated Crypto Trading a Boost for Local Currency

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The Nigerian Senate Committee on Capital Markets has called for the regulation of cryptocurrency and warned that the country’s unclear position could be costing the country. The committee also urged the government of Bola Tinubu to develop the capital and crypto markets to defend the local currency. Nigeria’s Ambiguous Stance on Crypto The Nigerian Senate […] Source link

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Binance sends cease and desist notice to fraudulent Nigerian entity

coiner

Binance CEO Changpeng Zhao has announced that Binance has officially issued a cease and desist notice to the fraudulent entity known as Binance Nigeria Limited.  On Sunday, June 18, Zhao took to Twitter to make the announcement. On June 9, the Nigerian Securities and Exchange Commission (SEC) released a circular stating the illegality of Binance Nigeria Limited in the country. According to reports, a Binance spokesperson responded that the entity mentioned in the circular is not affiliated with the company. The spokesperson expressed the company’s intention to seek clarity from the Nigerian SEC…

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