News Explorer — Binance Is Discontinuing Its NGN Services in Nigeria Amid Regulatory Scrutiny
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Binance Is Discontinuing Its NGN Services in Nigeria Amid Regulatory Scrutiny
Binance has announced that it will discontinue its naira (NGN) services in response to regulatory scrutiny in Nigeria. The cryptocurrency exchange will delist NGN spot trading pairs and remove NGN services from its auto-invest tool and Binance Pay. This decision comes after the Nigerian government imposed restrictions on crypto exchanges and accused Binance of facilitating illicit flows. Binance officials were reportedly detained in Nigeria and may face charges related to currency manipulation and illegal operations.
Binance has announced that it will discontinue its naira (NGN) services in response to regulatory scrutiny in Nigeria. The cryptocurrency exchange will delist NGN spot trading pairs and remove NGN services from its auto-invest tool and Binance Pay. This decision comes after the Nigerian government imposed restrictions on crypto exchanges and accused Binance of facilitating illicit flows. Binance officials were reportedly detained in Nigeria and may face charges related to currency manipulation and illegal operations.
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