🧵 1. Nigerian Bureau De Change urges government to ban Binance. The association sees Binance as a key contributor to naira pressure due to its liquidity and market dominance. #politics
🧵 1. Nigerian Bureau De Change urges government to ban Binance. The association sees Binance as a key contributor to naira pressure due to its liquidity and market dominance. #politics
🧵 2. Association emphasizes the need to protect local liquidity and urges the government to take action by prohibiting Binance's activities.
🧵 3. Nigerian Securities and Exchange Commission warned investors about engaging with Binance, citing unauthorized operations and violation of the law. Binance responded with a cease and desist notice to Binance Nigeria.
🧵 4. Nigeria remains cautious about cryptocurrencies while developing its own central bank digital currency. The country upgrades its CBDC system for contactless payments. Binance's regulatory challenges continue.
🧵 Read more at: https://cointelegraph.com/news/binance-nigeria-faces-calls-for-ban-by-nigerian-bureau-de-change-association
😲 seriously