The Economic and Financial Crimes Commission (EFCC), Nigeria’s anti-corruption agency, has obtained an order from the Federal High Court to freeze N548.6 million in bank accounts that have been linked to suspected cryptocurrency users on platforms such as ByBit, KuCoin, and others, due to their alleged involvement in naira fluctuations. 

The Federal Inland Revenue Service (FIRS) has made plans to introduce an Executive Bill to the National Assembly which aims to overhaul Nigeria’s revenue system and regulate the cryptocurrency sector.

CBN Targets Cryptocurrency To End Naira Depreciation In response to the Nigerian government's increasing scrutiny of crypto businesses, Binance, the world’s biggest cryptocurrency exchange, has halted its operations in Naira. The decision came after authorities in Africa’s biggest economy imposed restrictions on cryptocurrency exchanges as part...

CBN Targets Cryptocurrency To End Naira Depreciation In response to the Nigerian government's increasing scrutiny of crypto businesses, Binance, the world’s biggest cryptocurrency exchange, has halted its operations in Naira. The decision came after authorities in Africa’s biggest economy imposed restrictions on cryptocurrency exchanges as part...

Chainalysis: Cryptocurrency Money Laundering Drops By 29% A Chainalysis report states that money laundered through cryptocurrency exchanges declined by 29 per cent in 2023. The report, obtained on Thursday, revealed that those illicit funds dropped by approximately $9.3bn, declining from $31.5bn in 2022 to $22.2bn in...

India Regulates Cryptocurrency, Removes Binance From Google Play Store   The Indian government has taken stringent action against several cryptocurrency exchanges, notably impacting Binance, as users found themselves unable to access their crypto wallets, followed by the removal of Binance apps from the Google Play Store. The...