The Central Bank of Nigeria issued a directive asking financial institutions to identify and cease transactions with Bitmex, KuCoin, OKX, and Binance.
The Central Bank cautioned against dealing in cryptocurrencies or facilitating payments for crypto exchanges, emphasizing the prohibition.
The regulatory authority mandated financial institutions to freeze accounts associated with the banned exchanges, warning of severe sanctions for non-compliance.
The directive focuses on foreign exchanges like Binance, Bybit, KuCoin, and OKX, while Nigerian exchanges complying with regulations are not mentioned.
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