Nigeria’s central bank clarifies its position on cryptocurrencies

The Central Bank of Nigeria (CBN) did not prohibit local residents from buying and selling bitcoin, the restrictions only apply to financial institutions. Writes about this Today NG .

Regulator spokesman Adam Lamtek said CBN “did not dissuade people” from trading digital assets.

“All we did was ban cryptocurrency transactions in the banking sector,” he said.

On February 5, the CBN ordered commercial financial institutions to close the accounts of digital asset companies. According to the regulator, this will help protect the local economy from risks.

The Senate of Nigeria has demanded from the governor of the central bank Godwin Emefiele to explain the imposed restrictions .

On February 18, on the Quidax marketplace, the price of bitcoin paired with Nigerian Naira exceeded $ 76,000 .

As a reminder, in March, Nigeria’s Vice President Yemi Osinbajo called for the cautious implementation of blockchain and cryptocurrencies.

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