No going back on Crypto ban, CBN insists

No going back on Crypto ban, CBN insists

No going back on Crypto ban, CBN insists   Says digital currencies breed illegal activities, raise risks The Central Bank of Nigeria (CBN) has insisted that the ban it places on cryptocurrencies trading in Nigeria stays, saying that the digital currencies breed illegal activities and raise risks, among other reasons. It said this on Sunday in a statement regarding various comments and reactions following its recent reminder to Deposit Money Banks (DMBs) to desist from transacting in/and with entities dealing in cryptocurrencies. The CBN stated, “The recent regulatory directive became…

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