Nigeria has vowed to ban person-to-person cryptocurrency trading in the naira in an effort to protect the local unit.
to ban person-to-person cryptocurrency trading in the naira, taking its latest step to corral an industry which the West African nation blames for harming the battered local unit.
“The thing that needs to be done is delisting the naira from the P2P space in order to avoid the level of manipulation that is currently happening,” Agama said, referring to peer-to-peer trading. “Recent concerns regarding crypto P2P traders and their perceived impact on the exchange rate of the naira has underscored the need for collective action,” he said in a statement released by the Abuja-based SEC on Monday evening., the world’s largest cryptocurrency exchange, and the arrest of two of its executives when they visited the country in February.
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