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DeepNewz, mobile.
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Regulators are being urged to take action against Binance and other exchanges like KuCoin and Bybit to prevent manipulation of the Naira. Binance executives have been summoned by the Nigerian House of Representatives over money laundering and terrorism financing allegations. Binance will discontinue all Nigerian Naira services, with remaining balances to be converted to USDT due to intense government scrutiny and regulatory pressures.
Regulatory pressures force @binance to exit Nigerian market. https://t.co/EWI39ZZB28
#Binance to discontinue all NGN-related services. More here ⤵️ https://t.co/dBJqBBBeTz
How is Binance going to convert those NGN balances to Tether? Oh right, money laundering and bank fraud. Binance clearly doesn’t have banking in Nigeria… Maybe Tether just prints more tokens out of thin air. Sure, why not? https://t.co/eghRovDnyv
