The Federal High Court sitting in Abuja has ordered world's largest Cryptocurrency company, Binance Holdings Limited to disclose the names and transaction details of all its most prominent users in Nigeria.
“That an order of this honourable court is hereby made directing the operators of Binance to provide the commission with comprehensive data/information relating to all persons from Nigeria trading on its platform.” “Mr Bello averred that, following the inauguration of the Technical Committee on Currency Stability and Forex Manipulation by the ONSA, the SIT “received an intelligence stating the nefarious activities on Binance.”
Despite the warning by the regulatory agency, the firm continued its operation, attracting huge patronage especially among urban youths and suspected speculators and money launderers. Binance also told its Nigerian users to either withdraw their naira deposits, trade their assets denominated in the currency or convert their naira holdings into crypto before the discontinuation came into effect on March 8, 2024.Before flagging, please keep in mind that Disqus does not moderate communities. Your username will be shown to the moderator, so you should only flag this comment for one of the reasons listed above.
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