Binance to stop services in Nigerian Naira amid crackdown on crypto exchanges
The Star Online - Tech·2024-03-05 21:00
(Reuters) - Binance will stop all transactions and trading in Nigeria's local currency after March 8 amid a country-wide crackdown on crypto exchanges that have been blamed by authorities for feeding a black market for foreign exchange.
It will stop supporting withdrawals after Friday and any remaining balances in Nigerian Naira will be automatically converted into Tether - a stablecoin whose value is pegged to the U.S. dollar.
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