Cryptocurrency Q&A
Can Nigerian banks & FIs trade cryptocurrencies?
Can Nigerian banks & FIs trade cryptocurrencies?
Stefano
Thu Nov 21 2024
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5 answers
891
I'm wondering if Nigerian banks and financial institutions are allowed to engage in cryptocurrency trading. Is there any regulation or policy in place that permits or restricts such activities in Nigeria?
5 answers
SamuraiWarrior
Sat Nov 23 2024
According to the CBN, Nigerian banks and financial institutions (FIs) are not allowed to engage in holding, trading, or transacting cryptocurrencies on their own behalf.
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KatanaSharp
Sat Nov 23 2024
This ban is part of the CBN's efforts to establish a clearer regulatory framework for virtual assets.
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CryptoVanguard
Sat Nov 23 2024
The new guidelines aim to bring more transparency to the market and protect investors from potential risks associated with cryptocurrencies.
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EthereumLegend
Sat Nov 23 2024
The Central Bank of Nigeria (CBN) has issued strict guidelines regarding cryptocurrencies.
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Eleonora
Sat Nov 23 2024
BTCC, a leading cryptocurrency exchange, offers a range of services including spot trading, futures trading, and wallet solutions.
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