🚨 BREAKING NEWS: The Central Bank of Nigeria has made new rules for crypto.
Companies that want to issue stablecoins tied to foreign money (like US dollars, such as USDT or USDC) must have at least ₦15 billion already paid into their company before they can operate in Nigeria. 🇳🇬
At the same time, the CBN is making it harder for people to buy and sell crypto directly with each other on platforms (called P2P trading). Platforms will need stricter approval, and they must carefully check and verify the identity of everyone involved in these trades.
The Question now on everybody's lips is Does P2P need approval from the federal government before carrying out its operations?
SpaeMedia #CBN #crypto #fyp
Companies that want to issue stablecoins tied to foreign money (like US dollars, such as USDT or USDC) must have at least ₦15 billion already paid into their company before they can operate in Nigeria. 🇳🇬
At the same time, the CBN is making it harder for people to buy and sell crypto directly with each other on platforms (called P2P trading). Platforms will need stricter approval, and they must carefully check and verify the identity of everyone involved in these trades.
The Question now on everybody's lips is Does P2P need approval from the federal government before carrying out its operations?
SpaeMedia #CBN #crypto #fyp
