Crypto Exchanges in Nigeria Align with Naira Delisting Directive, Confirms Regulator
The Nigerian Securities and Exchange Commission (SEC) has confirmed that global cryptocurrency exchanges have followed its directive to remove the naira from their peer-to-peer (P2P) platforms.
This announcement comes after Kucoin’s recent delisting of the naira, which the SEC cites as evidence of compliance with local regulations. The move to delist the naira from P2P platforms aims to prevent currency manipulation and protect the national interest, according to Emomotimi Agama, the acting director-general of the SEC.
Agama emphasized the importance of complying with regulatory directives and warned against practices that undermine national interests, noting collaboration with other agencies like the Economic and Financial Crimes Commission to ensure compliance in peer-to-peer crypto trading.
Clever Robot News Desk 21st May 2024
