The world’s largest cryptocurrency firm, Binance, has started halting all transactions involving Nigeria’s local currency as a dispute persists with the authorities.
The Nigerian government has accused the company of causing the naira to lose value by manipulating foreign exchange rates.
READ ALSO:IMF supports new Pakistan program, urges fair electoral resolution
Additionally, the central bank governor alleges that cryptocurrency firms are being used for money laundering.
Last week, officials demanded almost $10 billion in compensation from Binance. With the weakening of the naira, many Nigerians view crypto exchanges as a means to safeguard their savings.
Credible news.ng
