Information reaching Kossyderrickent has it that CBN Governor said $26B has passed through Binance from unknown sources in the last 1 year.
Governor of the Central Bank of Nigeria, Olayemi Cardoso, has disclosed that more than $26bn was channelled through a cryptocurrency platform, Binance, in the last four years.
Cardoso disclosed this on Tuesday at a press briefing after the 293rd meeting of the Monetary Policy Committee in Abuja.
The Binance exchange is a leading cryptocurrency exchange founded in 2017.
It features a strong focus on altcoin trading. In response, Binance stated that it has taken some actions to adjust trading on its platform by Nigerians to address what it described as an unusual currency movement.
While many Nigerians have been complaining of facing restrictions with buying and selling USDT on the platform since Tuesday, Binance said its action was “to protect users and prevent any abuse.”
The company also distances itself from the forex debacle in Nigeria saying its platform is “market-driven and not intended to be a proxy for currency pricing in Nigeria.”
While answering questions from journalists on the recent restriction on Binance and other cryptocurrency platforms, the CBN boss said, “In the last four years, more than $26 billion have been funnelled through Binance without trace.”
He added that the CBN is moving to a very aggressive regulatory environment.
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