Binance faces calls for ban by Nigerian Bureau De Change association

Binance continues to experience an increase in regulatory heat as the Federal Government of Nigeria is being urged by the Association of Bureau De Change Operators of Nigeria (ABCON) to prohibit the activities of Binance within the nation.

ABCON is a self-regulatory body and an umbrella for all the central bank-licensed Bureaux de Change (BDC). This action comes in response to the association reportedly

Nigeria has adopted a vigilant approach to the cryptocurrency sector while concurrently advocating for its central bank digital currency (CBDC). In July, it upgraded the CBDC system with near-field communication technology, enhancing contactless payments.

Cointelegraph reached out to Binance for commentaries on the ABCON’s calls for a ban but is yet to get a response at the time of publication.

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