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Banks begin closing of customer’s accounts that trade cryptocurrency (photo)

Banks begin closing of customer's accounts that trade cryptocurrency (photo)

In a chilling but sadly all-too-familiar sequence of events, commercial Banks in Nigerian have started implementing the order given by CBN to ban the trading of cryptocurrency in Nigeria.

In a recent development, Access Bank, GTBank and UBA has begun closing customer accounts that have traded cryptocurrency.

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The accounts closure appears to be the enforcement of a new law on activities that were not illegal when they were performed. Until the CBN’s recent circular, it was okay for people to trade crypto with their bank accounts.

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