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Regulators are being urged to take action against Binance and other exchanges, such as KuCoin and Bybit, in a bid to prevent further manipulation of the Naira.
Last week saw a major price uptick that led to Bitcoin (BTC) retesting $64,000 as spot BTC ETFs recorded all-time high volumes. Meanwhile, Nigeria fined Binance $10 billion over allegations of currency manipulation and Elon Musk sued OpenAI CEO Sam Altman.
Binance faces another hefty fine following $4.3 billion paid to U.S. authorities as part of a plea settlement with the Department of Justice.
Nigerian authorities have reportedly detained two senior executives at Binance in a bid to clamp down on naira speculation. As reported by the Financial Times (FT), Binance’s two senior executives have been arrested upon arrival to Nigeria by the Office…
The Nigerian government has mandated telecom and internet service providers to restrict access to various crypto exchanges, including Binance, Coinbase, and Kraken.
The Nigerian government is said to be considering blocking Binance and other crypto firms to prevent forex market manipulation and illicit fund movement. Crypto exchange Binance and other digital asset trading platforms are risking being banned in Nigeria, as the…
Nigeria’s apex bank expanded on its decision to reverse a crypto ban on financial service providers, providing clear rules to oversee operations moving forward.
A consortium of Nigerian banks, fintechs and blockchain companies is developing the first regulated Naira stablecoin, cNGN. The new stablecoin cNGN will be a consortium-based compliant and regulated Naira stablecoin. cNGN will be pegged 1:1 to NGN, but unlike previous…
The Central Bank of Nigeria recently lifted its ban on local banks and financial institutions serving cryptocurrency firms.
Following the Central Bank of Nigeria's reversal of the cryptocurrency transaction ban for banks, Yellow Card Exchange is actively seeking licensing plans.
This week witnessed a proliferation of global regulatory efforts as Nigeria lifts ban on crypto. Plus: Do Kwon, 3AC and Sam Bankman-Fried.
Nigeria lifted a ban on crypto trading, first instituted in February 2021 due to concerns about potential money laundering and terrorism financing.
Blockchain.com will increase its workforce by a quarter in early 2024, strategically moving into new markets such as Nigeria and Turkey.
The Nigerian police arrested one of the suspects allegedly involved in the hack of crypto trading outfit, Patricia Technologies.
The Central Bank of Nigeria expressed the local CBDC, the eNaira, stating it's not a threat to the nation's financial stability.
As 130 economies explore CBDCs, the Bahamas, Jamaica, and Nigeria have fully launched their versions, while G20 nations proceed cautiously. According to the Atlantic Council Central Bank Digital Currencies (CBDC) Tracker updated on Aug. 16, only three countries have fully…