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- Coinbase has refuted claims of receiving directives to dam Nigerians from its platform.
- Quite a few stories declare the Nigerian authorities has ordered the blockage of crypto buying and selling platforms.
- Coinbase’s CEO emphasised that its alternate stays accessible to Nigerians.
Outstanding U.S. base alternate Coinbase has refuted claims of receiving any directives from the Nigerian authorities to limit its residents’ entry to the platform. This denial got here by means of a current assertion from the CEO of Coinbase, Brian Armstrong, by way of the social media platform X.
Armstrong responded to a report claiming the Nigerian authorities had blocked its residents’ entry to 3 outstanding crypto buying and selling platforms, together with Coinbase, Binance, and Kraken.
“That is inaccurate with respect to Coinbase, so far as I can inform. Coinbase merchandise are nonetheless working (no interruption). We haven’t obtained any outreach or communication from officers in Nigeria,” Armstrong remarked.
Notably, the controversy began earlier this week when Nigerians expressed their frustration on the social media platform X about their lack of ability to entry their most well-liked cryptocurrency buying and selling platforms. Some needed to resort to digital personal networks (VPNs) to entry the crypto exchanges.
Consequently, hypothesis arose suggesting that the Nigerian Communications Fee (NCC), which regulates web service suppliers, had instructed telecom corporations to limit entry to those cryptocurrency exchanges.
Based on the UK media outlet Monetary Occasions, the choice was geared toward stemming the decline of Nigeria’s native forex, NGN, which has been experiencing a steady decline for a number of months.
Nonetheless, no authoritative supply confirmed that the federal government had ordered entry to Coinbase, Binance, and Kraken to be restricted. Moreover, subsequent updates from some Nigerians on X advised that these crypto exchanges stay accessible, countering stories that counsel in any other case.
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