The Nigerian Securities and Exchange Commission (SEC) alleges that crypto participants and exchanges are manipulating the Naira's value through P2P transactions. Emomotimi Agama, the newly appointed Director-General, suggests delisting the Naira from all P2P platforms as a remedy.
Agama highlighted the government’s resolve to combat the perceived threat, saying:
Full news: https://bitcoinist.com/nigeria-threatens-to-ban-p2p-transactions/
Agama highlighted the government’s resolve to combat the perceived threat, saying:
The potential P2P ban would significantly restrict Nigerian crypto investors. P2P platforms offer a convenient and often cheaper way to buy and sell crypto using local currency compared to traditional exchange channels. With the Naira delisted, Nigerians would face hurdles in entering and exiting the crypto market, potentially hindering its growth and adoption.“This is one of the things we must do to save this space.”
Full news: https://bitcoinist.com/nigeria-threatens-to-ban-p2p-transactions/