BREAKING: Cryptocurrency Set To Crash In Nigeria As FG Stops Naira Trading On P2P Platforms—-The federal government has declared that it will take the naira off of all peer-to-peer (P2P) exchanges.
During a virtual conference with blockchain stakeholders on Monday, Emomotimi Agama, the Director General of the Securities and Exchange Commission, made this declaration.
The goal of this resolution is to combat manipulation of the value of the local currency in the foreign exchange market.
In past months, the nation’s regulatory bodies have started looking into and closely examining cryptocurrency exchanges.
The country’s regulatory authorities have been investigating and scrutinising cryptocurrency exchanges in recent months.
On March 8, the biggest cryptocurrency exchange, Binance, stopped its naira services.
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