{"id":46568,"date":"2021-02-05T16:35:57","date_gmt":"2021-02-05T15:35:57","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=46568"},"modified":"2021-02-05T16:35:57","modified_gmt":"2021-02-05T15:35:57","slug":"cbn-bans-cryptocurrencies-orders-closure-of-accounts-involved","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/cbn-bans-cryptocurrencies-orders-closure-of-accounts-involved\/","title":{"rendered":"CBN Bans Cryptocurrencies, Orders Closure Of Accounts Involved"},"content":{"rendered":"
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\"\"The Central Bank of Nigeria has ordered banks and other financial institutions to freeze customer accounts used in trading cryptocurrencies and other related transactions.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n
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This was contained in a circular sighted, after it was seen on social media on Friday Afternoon.<\/p>\n

In the circular, the apex bank ordered closure of deposit money banks, non-bank financial institutions and other financial institutions to \u201cidentify persons and\/or entities transacting in or operating cryptocurrency exchanges within their systems and ensure that such accounts are closed immediately. \u201c<\/p>\n

Cryptocurrency has become a unit of commerce globally over the years. The decision of the Central Bank to close accounts that transact in cryptocurrencies is still unknown.<\/p>\n

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Advertisement<\/div>\r\n\t\t\t\t\t\t\t<\/a>\r\n \r\n\t\t\t\t\t\t\t<\/div>\n

In the past few weeks, trading in Bitcoin and other cryptocurrencies has skyrocketed as the global economy becomes increasingly volatile.<\/p>\n

In 2020, crypto marketplace Paxful reported that Nigeria had the world\u2019s second-largest Bitcoin by trading volume. In the last five years,\u00a0 Nigerians have traded 60,215 Bitcoins, or more than $566 million USD, it was reported.<\/p>\n<\/div>\n<\/p>","protected":false},"excerpt":{"rendered":"

The Central Bank of Nigeria has ordered banks and other financial institutions to freeze customer accounts used in trading cryptocurrencies and other related transactions.<\/p>\n","protected":false},"author":6,"featured_media":14906,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[17],"tags":[8140],"coauthors":[2391],"class_list":["post-46568","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-news","tag-cryptocurrencies-ban"],"yoast_head":"\nCBN Bans Cryptocurrencies, Orders Closure Of Accounts Involved - National Wire<\/title>\n<meta name=\"description\" content=\"The Central Bank of Nigeria has ordered banks and other financial institutions to freeze customer accounts used in\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/cbn-bans-cryptocurrencies-orders-closure-of-accounts-involved\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CBN Bans Cryptocurrencies, Orders Closure Of Accounts Involved - 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