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The International Monetary Fund, IMF explained that global crypto trading platforms should be registered or licensed in Nigeria and subject to regulatory requirements.
The Washington-based bank disclosed this in its latest staff report for Nigeria.
The bank warned against the risk of the rapid growth of foreign exchange (FX) trading platforms in Nigeria, which poses new challenges to the country’s financial stability.
The IMF backed Nigerian authorities in their restriction on cryptocurrency platforms in February 2024.
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