Nigeria Slaps Strict Rules on Banks After Lifting Crypto Ban
- Crypto providers can open bank accounts but no cash withdrawal
- Banks still banned from holding, trading crypto for themselves
This article is for subscribers only.
Nigeria’s central bank has released inaugural guidelines for banks opening cryptocurrency accounts, while retaining its ban on them holding or trading in virtual assets on their own behalf.
The rules, published on the central bank’s website on Tuesday, flesh out the regulator’s decision last month to lift its prohibition on banks operating accounts for crypto service providers.