Nigerian authorities arrested two top managers of Binance

Two senior officials from cryptocurrency exchange Binance traveled to Nigeria to discuss a ban on cryptocurrency exchanges, but found themselves detained by authorities.

Earlier, the Nigerian government was concerned about the large amount of funds flowing through cryptocurrency exchanges, including Binance. Last year, $26 billion was transferred through this platform in Nigeria. Therefore, as part of efforts to stabilize the national currency, the country’s authorities began blocking the sites of major cryptocurrency exchanges. At the same time, even before that, Binance restricted work with the Nigerian naira in response to regulatory pressure.

“We are concerned that there are ongoing practices of illicit fund flows through a number of cryptocurrency exchanges. In the case of Binance, the flow reached $26 billion last year, with money coming from sources and users that we cannot accurately identify,” said the Governor of the Central Bank of Nigeria, Olayemi Cardoso.

It appears that Nigerian authorities have now moved on to the next stage – passports have been confiscated from Binance employees and they themselves have been arrested. As part of strengthening control over cryptocurrency transactions, the Nigerian regulator has also demanded that Binance provide a full list of local customers of the platform from the very moment of its launch.

It should be noted that Nigerians are almost universally aware of cryptocurrencies – according to ConsenSys, 99% of the population is aware of digital assets.


Коля Мельниченко

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