Nigeria Directs Entities to Identify Those Dealing Crypto With Bybit, KuCoin, OKX and Binance

The Central Bank of Nigeria issued a directive on Tuesday asking financial institutions to identify persons or entities transacting in or operating with Bybit, KuCoin, OKX and Binance, according to a letter seen by CoinDesk.

The letter, addressed to Deposit Money Banks (DMBs), Non-Bank Financial Institutions (NBFls), Other Financial Institutions (OFIs) and members of the public, also cautioned and reminded the institutions that dealing in cryptocurrencies or facilitating payments for cryptocurrency exchanges is prohibited.

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Notably, the letter said any perpetrator or “suspected agent” secretly working with all cryptocurrency platforms, “buying and selling USDT illegally,” will be arrested. It is the “duty of the Central Bank of Nigeria to investigate economic problems in the country.”

Source: Nigeria Directs Entities to Identify Those Dealing Crypto With Bybit, KuCoin, OKX and Binance