Well it's no news that the federal government are out to really put regulations on how cryptocurrency dealings should be operated in Nigeria and one of their main target has being binance exchange and just today we saw that binance has disabled their P2P method of trading coins for Nigerian users.
Now I see this link about binance exchange top official being detained.
https[Suspicious link removed]cutives-in-cryptocurrency-crackdown/amp/
I just dey wonder where this madness go stop with Federal government and their quest to actually track down transaction that is better left untracked and to what extent and how many exchange will they target too because I believe if dem continue this then to trade coins for naija go hard well well only of we all no migrate to using decentralized exchange to trade our coins .
In September 2023, Nigeria's Securities and Exchange Commission (SEC) placed a disclaimer on Binance Nigeria Limited, saying the platform was “neither registered nor regulated by the Commission and its operations in Nigeria are therefore illegal
Nigerian authorities say Binance, which isn't registered to operate in the country, caused widespread economic disruption and contributed to the naira's 70% weakening in recent months. the BBC reported
My question is must the federal government always waste there energy and time on inrelevant things when they are supposed to be focusing on how to grow the economy and and create a conducive environment where investors can come in and then job creation for her citizens rather they will be chasing after shadows instead.
God help us and bless our hustle