Nigerian blockchain advocates are expressing concerns over the government's recent move to obstruct access to prominent cryptocurrency trading platforms such as Binance, Kraken, and Coinbase, stating that this decision might undercut efforts to foster trust and confidence in the country's financial system.
The group further highlighted potential inconsistencies in these actions with established norms, as dictated by the Nigerian Communications Commission's orders to telecommunication companies.
This development is seen as a setback for the integration of blockchain technology and cryptocurrencies in Nigeria's financial landscape, questioning the trajectory towards embracing digital currencies and fostering financial inclusivity.
The blockade on access to major crypto exchanges could have widespread implications, both for the local economy and for the burgeoning cryptocurrency community within the country.