The Central Bank of Nigeria (CBN) on Friday directed banks all through the nation to close down the accounts of cryptocurrency retailers.
The CBN in its directive, advised Deposit Cash Banks (DMBs), Fully completely different Monetary Establishments (OFIs), and Non-Financial institution Monetary Establishments (NBFIs) native monetary establishments to cease any transactions in crypto or facilitating funds for crypto exchanges.
The apex financial institution all through the spherical signed by Director of Banking Supervision, Bello Hassan, and Director, Funds System Administration Division, Musa I Jimoh warned that disobedience to the directive will entice sanctions.
Nonetheless, the Nigeria Authorities wouldn’t be the primary to ban transaction in crypto as seven completely completely different governments have taken the an similar resolution.
See the rules of the nations beneath:
China’s central monetary regulatory authority, positioned a ban on all residence and overseas cryptocurrency exchanges all through the nation in 2017.
The central financial institution of Bolivia in 2014 banned bitcoin and each completely completely different overseas change not regulated by states, nations, and financial space.
Morocco’s overseas change workplace and central financial institution prohibits using cryptocurrency for transaction all through the nation.
Bitcoin and completely completely different digital currencies are presently banned by the Ecuadorian authorities. The central financial institution of Ecuador furthermore prohibits the buying for and promoting of cryptocurrencies by the web.
Central financial institution of Iran in 2018, launched that it was prohibiting all monetary establishments, together with banks and credit score rating ranking establishments from dealing in cryptocurrency.
The Bangladesh financial institution in 2017 issued a ban on cryptocurrency.
In 2017, Bitcoin and completely completely different cryptocurrencies grew to develop to be thought-about as unlawful varieties of monetary tender in Nepal