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Nigeria’s Policy Shift Unleashes Potential for XRP Surge as Banks Reconnect with Crypto Exchanges

30Dec

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XRP News

Nigeria’s Policy Shift Unleashes Potential for XRP Surge as Banks Reconnect with Crypto Exchanges

In a pivotal move that marks a significant turning point for XRP, Nigeria has recently altered its policy concerning commercial banks and their interactions with cryptocurrency exchanges. This development, highlighted in a recent Forbes report, follows a circular issued by the Central Bank of Nigeria (CBN) on December 22nd, granting Nigerian banks permission to engage with crypto exchanges. This decision signifies a remarkable shift in Nigeria's approach to cryptocurrencies, transitioning from restriction to inclusion and positioning the country among those with clear crypto regulations. Read Also: Terraport's TERRA Token Achieves Coingecko Listing Milestone https://twitter.com/notgwera/status/1738311027266138374?s=19 CBN Once Banned Crypto In Nigeria Nigeria had previously imposed...

Binance Takes Legal Action against Scammer Entity “Binance Nigeria Limited”

Binance, one of the world's leading cryptocurrency exchanges, has recently issued a cease and desist notice against the scammer entity "Binance Nigeria Limited." The announcement came directly from Changpeng Zhao (CZ), the Chairman of Binance, who took to his Twitter page to address the situation. This move by Binance showcases its commitment to maintaining the integrity of its brand and protecting its users from fraudulent activities. In a strongly worded tweet, CZ expressed his disappointment and frustration at the existence of such a fraudulent entity using the Binance name. He emphasized that Binance Nigeria Limited has no affiliation with the legitimate Binance platform and urged individuals to exercise caution and avoid any dealings with this scammer entity. https://twitter.com...

Nigerian Industry Group Calls Out Public Institutions Over Unlawful Cryptocurrency Stance

The Stakeholders in Blockchain Technology Association of Nigeria (IBAN), a group created in 2018 to promote blockchain adoption in Nigeria, have reached out to public institutions about the wrongful stigmatization of crypto and blockchain users in the country. Read Also: Crypto Gains Bullish Voices on Social Media As Stated By Santiment SiBAN: Crypto Is Not Illegal in Nigeria In a press release shared with Coinfomania, SiBAN noted that the use of cryptocurrencies is not unlawful in Nigeria, but authorities treat crypto investors like criminals. Recall that early last year, the Central Bank of Nigeria (CBN) issued a circular to financial institutions in the country, including Deposit Money Banks (DMBs) and Non-Financial Institutions (NBFIs), ...