Despite Recent Losses, Nigeria’s Reputation In The Cryptocurrency Space Will Endure | Digital Market News – The Global Tofay

Despite Recent Losses, Nigeria's Reputation In The Cryptocurrency Space Will Endure | Digital Market News - The Global Tofay Global Today

Flincap’s chief marketing officer, Oladotun Akangbe, said that given Nigeria’s increasing acceptance of cryptocurrencies, conflicts in the country’s cryptocurrency scene are to be anticipated. Nigeria’s standing as a cryptocurrency leader might be compromised by the government’s recent assault on local exchanges. The chief marketing officer of the Flincap cryptocurrency exchange, Oladotun Wilfred Akangbe, is certain that the nation can withstand the storm.

Authorities In Nigeria Block Locals From Visiting Many Crypto Websites

In a Cointelegraph interview, Akangbe voiced worries about Nigeria’s reputation in the global cryptocurrency industry in light of recent developments. He did, however, note that it has previously surmounted more serious obstacles. The local authorities blocked local cryptocurrency users from seeing the websites of many cryptocurrency exchanges, including Binance, OctaFX, and others, in February by using the nation’s telecom carriers.

Subsequently, authorities charged Binance with smuggling $26 billion out of the nation illegally and asked Binance to send representatives to address the matter. In February, Binance executives Tigran Gambaryan and Nadeem Anjarwalla traveled to Nigeria in response to claims that the exchange had manipulated the naira, the nation’s fiat currency. However, following a meeting with local officials on Binance’s regulatory difficulties, the executives of Binance were taken into custody and charged with five charges of money laundering. After that, Anjarwalla broke out of police custody and was found in Kenya, where he is being sought for extradition.

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