Governor Olayemi Cardoso of the Central Bank of Nigeria unveils startling figures of $26 billion routed through Binance over four years, prompting a push for stricter regulations in the country's cryptocurrency landscape. Read more
Governor Olayemi Cardoso of the Central Bank of Nigeria dropped a bombshell revelation during a press briefing following the 293rd meeting of the Monetary Policy Committee.
He disclosed that over the past four years, an astonishing $26 billion has traversed through the cryptocurrency platform, Binance, without leaving a trace.
Addressing concerns about the recent restrictions imposed on Binance and other cryptocurrency platforms, Cardoso emphasized the necessity for a more stringent regulatory framework.
He underscored the CBN's commitment to enforcing compliance with upcoming regulations, asserting a zero-tolerance policy towards those who flout the rules.
The tightening grip on cryptocurrency activities coincides with a notable shift in the Naira's performance against the USD.
Amid the regulatory crackdown, the Naira has shown signs of appreciation, signaling potential impacts on Nigeria's financial landscape.
Stay updated with Daily Post as developments unfold in Nigeria's evolving cryptocurrency saga. Continue reading