Reactions To Nigeria's Cryptocurrency Ban %%page%% %%sep%% %%sitename%% - Bitcoin Magazine: Bitcoin News, Articles, Charts, and Guides

Feb 15, 2021
An agreement between financial services company TMX Group and cryptocurrency broker Paycase Financial has resulted in a lawsuit between the two.
The Central Bank of Nigeria (CBN) has said that its decision to ban cryptocurrency was necessary to prevent crimes and mitigate risks
Several Nigerians have condemned the move and believe the ban has some political undertone beyond those stated reasonings
The Senate of Nigeria has summoned the CBN governor to explain the decision to ban cryptocurrency. 
In a move that sparked outrage on social media earlier this month, the CBN issued a reminder to regulated financial institutions in the country that a 2017 regulation prohibits them from dealing in cryptocurrencies or facilitating payments for cryptocurrency exchanges.

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