Binance, the world’s largest cryptocurrency exchange, is disabling all its Naira services from March 8 amid the company’s regulatory troubles in Nigeria, the company shared in a statement on its app. The company, which is at the centre of a crypto crackdown in the West African country, will stop naira deposits after March 5, while withdrawals will end on March 8.
“Any remaining NGN balances in users’ Binance accounts will be automatically converted to USDT,” the exchange said in a statement on Tuesday. Binance will also delist all existing NGN spot trading pairs on March 7. The naira will be removed from the list of supported payment options on Binance Pay, the exchange’s payment solution.
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