Nigeria's Central Bank Sharpens Focus on Bybit, KuCoin, OKX, and Binance
Wednesday, 24 April 2024, 10:23
Nigeria Intensifies Crypto Clampdown: Top Exchanges Under Scrutiny
In a significant move, the Central Bank of Nigeria (CBN) has directed financial institutions to monitor and report activities involving major cryptocurrency platforms.
Key Points:
- Major Exchanges Under Scrutiny: Bybit, KuCoin, OKX, and Binance
- CBN instructs implementing post-no-debit order on suspicious accounts
- HCrypto Clampdown: Heavy penalties for non-compliance
- Warning Issued: Individuals facilitating USDT trading may face arrest
The recent actions by Nigerian authorities underscore a rigorous approach to oversee the cryptocurrency market.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.