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Crypto users in Nigeria briefly lose access to Binance, Kraken and Coinbase

Some cryptocurrency exchanges in Nigeria faced accessibility issues for users, prompting speculation of imposed restrictions on crypto sites.

On Wednesday, local media reported that Nigeria’s telecom regulator, the Nigerian Communications Commission (NCC), received instructions from the country’s apex bank to suspend access to crypto websites, including Binance, Coinbase and Kraken. Crypto sites, particularly Binance, became popular for their peer-to-peer features, enabling direct cryptocurrency trades after the central bank prohibited local financial institutions from facilitating such transactions years ago. According to Bloomberg, a presidential spokesman confirmed Nigeria’s issuance of a directive instructing telecoms and internet service providers to block access to cryptocurrency trading platforms.

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