CBN’s crypto trading ban is justified, BDC operators say

Expect operation No Street Trading of foreign currencies soon, ABCON threatens

CBN’s crypto trading ban is justified, BDC operators say   The Association of Bureaux De Change Operators (ABCON) of Nigeria has given its backing to the Central Bank of Nigeria’s (CBN’s) policy mandating banks to close all accounts belonging to cryptocurrency traders. It said this in a statement on Sunday titled ‘ABCON backs CBN’s cryptocurrency trading ban for stronger anti-money laundering compliance’. Alhaji Aminu Gwadabe, the president, ABCON, said the regulator acted fast to curtail an emerging dangerous trend capable of eroding Nigeria’s Anti-Money Laundering and Counter-Terrorist Financing gains. He…

Read more