Nigerian Users Criticize Binance for Imposing Exchange Rate Caps on USDT to Naira Transactions
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Some Nigeria-based users of Binance’s peer-to-peer platform have blasted the crypto exchange’s decision to block or remove traders quoting USDT to naira exchange rates exceeding NGN1,802. Binance says it has the right to remove “users behaving in a malicious or manipulative way.” The Nigerian Currency’s Woes Some Nigerian users of Binance’s peer-to-peer (P2P) platform have […]
Nigeria looks to block Binance’s peer-to-peer (P2P) exchange because criminal transactions on the platform have allegedly hurt the naira. The move comes after the central bank introduced a new official exchange rate to encourage foreign investment. Nigeria is considering blocking Binance and other crypto exchanges for alleged foreign exchange market…