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 .
All these actions federal government is taking is all effort in futility, we get over Hundred exchange companies that Nigerians can go and trade their coins. They just want to victimize binance the same way they did to aboki FX. They are blaming every other person for the woes in the economy except themselves. They doing these to binance because it's the most popular, I even read on the news that the FG is asking Binance to pay 10 million dollars for damages, and I'm curious to ask, For what damages.
The fact is that, The madness will not stop since the CBN governor and national economic council doesn't know the solution to our problem, so everybody go collect. The federal government even had to detain 2 binance representative that came to discuss with them concerning the issue.
Wait what ? I’ve been following up the issue and I know I got really pissed and stopped reading the news when I learnt of the 10 million dollars fine , but I didn’t hear a thing about them detaining Nigeria binance representatives. This situation is really ugly tbh. Other transactions can be done using binance app , it’s just try Ngn/usdt that’s been disabled for now , we don’t know what step the govt is going to take. My friend told me about Bitget & kucoin as good alternatives for now . So I’ve tried that of bitget exchange and I think it’s cool , kyc was done in 2secs & their p2p try .. federal govt no fit frustrate us ..