Coinbase Pushes Back on Reports It's Blocked in Nigeria
Summary
Coinbase, a cryptocurrency exchange platform, remains accessible in Nigeria despite reports of a potential ban and requests from the government to block several platforms including Binance, Coinbase, and Kraken. The reports suggest that the request for a ban is due to the struggle of the Nigerian naira, which has hit record lows against the U.S. dollar. Cryptocurrency platforms have been accused of setting exchange rates for Nigeria, thereby undermining the role of the country's central bank. The country's securities watchdog declared Binance's activities in Nigeria illegal in July. Despite these challenges, Nigeria continues to be a strong adopter of cryptocurrency.
