Bank

Coin

<ul class="news-points">
 <li>The CBN denied reports stating that it froze accounts related to unlicensed crypto firms.</li>
 <li>The regulator said that it wasn’t responsible for issuing the circular.</li>
 <li>“Always refer to the Bank’s website for authentic information,” said CBN.</li>
</ul>
The Central Bank of Nigeria (CBN) has refuted claims suggesting that it ordered local banks to freeze accounts associated with unlicensed crypto exchanges.&nbsp;
Reports surfaced<a href="https://coinedition.com/nigerias-central-bank-to-freeze-bybit-kucoin-okx-binance-accounts/" rel="noopener noreferrer nofollow"> alleging</a> that the CBN directed financial institutions to freeze accounts associated with exchanges like<a href="https://coinedition.com/federal-government-of-nigeria-charges-binance-with-tax-evasion-details/" rel="noopener noreferrer nofollow"> Binance</a>, OKX, Bybit, and KuCoin, but the bank has denied issuing such directives.&nbsp;
In a<a href="https://twitter.com/cenbank/status/1783168062780215414/photo/1" target="_blank" rel="noopener noreferrer nofollow"> post</a> on X, the central bank clarified that the circular instructing banks to freeze accounts linked to unlicensed crypto exchanges did not originate from the regulator. It urged the public to rely on its official website for authentic information.
The CBN emphasized, “Always refer to the Bank’s website for authentic information.”
Earlier reports claimed that the CBN issued a directive instructing banks to identify and freeze accounts engaged in transactions with cryptocurrency exchanges. These accounts were to be placed under a “Post No Debit (PND) ins…
The post <a href="https://coinedition.com/cbn-denies-mandating-banks-to-freeze-crypto-exchange-accounts/" rel="noopener noreferrer nofollow">CBN Denies Mandating Banks to Freeze Crypto Exchange Accounts</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

CBN Denies Mandating Banks to Freeze Crypto Exchange Accounts

Coin Edition

Other articles published on Apr 25, 2024

Morgan Stanley brokers eyeing spot Bitcoin ETFs for client investments

Dogwifhat Price Prediction: WIF Crypto Plunges 13% As This Solana Rival Blasts Past $15M With Les...

GALA Crypto Price Forecast: What’s Next For GALA In 2024?

Since Inception, 68% of Bitcoin Transactions Feature Runes

Bitcoin Settles Inflation Rate Battle With Gold, Becomes Scarcest Asset

Binance Founder Changpeng “CZ” Zhao Requests Probation, Gets Unprecedented Support

Join our free newsletter for daily crypto updates!