LAGOS (Reuters) – Binance, the world’s largest cryptocurrency change, has restricted the private accounts of 281 Nigerian customers, citing a have to adjust to worldwide cash laundering legal guidelines, its CEO mentioned.
Changpeng Zhao mentioned in a letter to Nigerian prospects dated Jan. 29 that the choice to limit some private accounts was to make sure person security whereas greater than a 3rd of the affected accounts have been restricted on the request of worldwide legislation enforcement.
“Presently, now we have resolved 79 circumstances and proceed to work by means of others. All non-law enforcement-related circumstances can be resolved inside two weeks,” Changpeng Zhao mentioned.
Regardless of a central financial institution ban, Nigerians have continued to show to crypto for enterprise, to guard their financial savings because the naira forex loses worth, and to ship funds overseas as a result of it’s typically arduous to acquire U.S. {dollars} domestically.
(This story refiles so as to add firm identify to headline)
(Reporting by MacDonald Dzirutwe; Enhancing by Toby Chopra)
Supply: KFGO
