A central bank ban on crypto transactions is at odds with the government's goal to build a digital economy around blockchain technology.
The Nigerian cryptocurrency community has been turning to peer-to-peer exchange platforms to continue trading.
The Nigerian Senate wants Central Bank Governor Godwin Emefiele and chief securities regulator Lamido Yuguda to testify about cryptocurrencies.
Some Nigerians plan to continue using bitcoin (BTC) and other cryptocurrencies despite a directive issued by the Central Bank of Nigeria (CBN) last week ordering banks to close down accounts associated with cryptocurrencies.
Both nations hope to prevent banks from providing services to crypto companies.
Xend Finance will allow credit unions and cooperatives to earn interest on deposits by converting them to stablecoins.
The Central Bank of Nigeria said its warning to banks on Friday was not a new position, but a reiteration of its 2017 stance on cryptocurrencies.
Nigeria's central bank told financial institutions they couldn't provide crypto companies or users with services on Friday.
Any breaches of the order would face "severe regulatory sanctions," the central bank warned.
The world is watching U.S. markets with great interest, and more than a little FOMO, as Reddit investors continue to test their might against Wall Street. It all started when retail investors on the Reddit community wallstreetbets began pumping the price of U.S. video game retailer GameStop’s (GME) stock to counter Wall Street hedge funds […]
When the Nigerian government shut down #EndSARS protestors’ bank accounts, bitcoin and crypto became a way around.
Telokanda, a collaboration between Telos and open-source weather tech company Kanda in West Africa hopes to engage local communities in collecting and sharing weather data on the Telos public blockchain.
Nigerians are protesting police corruption and concerns about a possible internet shutdown have driven some to adopt decentralized VPNs like Mysterium.
With backing from Binance Labs, Nigeria's Xend Finance is looking to bring DeFi to the world of local credit unions.
As End SARS protests against police brutality surge through Nigeria, the Feminist Coalistion has turned to bitcoin as a financial lifeline.