FG set to remove naira from P2P platforms
The Federal Government declared that it would take the naira off of all peer-to-peer (P2P) exchanges. During a virtual conference with blockchain stakeholders on Monday, Emomotimi Agama, the Director General of the Securities and Exchange Commission, disclosed this information.
The goal of this resolution is to combat manipulation of the value of the local currency in the foreign exchange market.
In recent months, the nation's regulatory bodies have started looking into and closely examining cryptocurrency exchanges.
The largest cryptocurrency exchange, Binance, discontinued its naira services on March 8.
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