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In May 2022, Nigeria’s Securities and Exchange Commission introduced a robust regulatory framework for virtual asset service providers, including digital asset exchanges. The framework required compliance with various laws and regulations to foster market integrity, safeguard investors, and deter financial crimes. The rules mandated digital asset exchanges to register, adhere to anti-money laundering (AML) practices, … Read more
Head prosecutor Ekele Iheanacho objected to bail by highlighting Gambaryan’s questionable attempt to get a new passport, allegedly due to a stolen previous one. Go to Source
Kucoin, a global cryptocurrency exchange platform, announced on May 15 that it has temporarily suspended its peer-to-peer (P2P) services for the Nigerian naira, as well as the Fast Buy service via naira cards. The crypto exchange stated that during this period, it will focus on ensuring compliance and creating a more robust and secure environment … Read more
The Nigerian currency, which has been depreciating against the U.S. dollar in the past few weeks, has completely erased its gains from early April, making it the worst-performing currency in the world. The decline of the naira is attributed to Nigeria’s ongoing foreign exchange shortages. One economist expects the pressure on the currency to peak … Read more
SBM Intelligence emphasized that detaining foreign business officials could make it challenging for the country to attract investors. Go to Source
SIBAN’s executive secretary, Rume Ophi, stressed that Binance should reveal names to substantiate the claim and allow authorities to address wrongdoing. Go to Source
Binance CEO Richard Teng says the Nigerian government has set a dangerous precedent after inviting company executives to meetings before detaining them. Go to Source
Nigeria’s SEC is set to launch a new regulatory framework for crypto exchanges and custodians “in the coming days.” Go to Source
The Nigerian central bank’s attitude to crypto has been inconsistent in recent years, and the crackdown contradicts a decision taken in 2021 to facilitate crypto account opening. Go to Source
A judge in Nigeria reportedly adjourned proceedings in a case against Binance and two executives until May 17 to allow lawyers to review certain documents. Go to Source
