Breaking: Coinbase CEO Denies Receiving Government Directive to Block Nigerians from its Crypto Exchange

  • NigeriaCoinbase has refuted claims of receiving directives to block Nigerians from its platform.
  • Numerous reports claim the Nigerian government has ordered the blockage of crypto trading platforms.
  • Coinbase’s CEO emphasized that its exchange remains accessible to Nigerians.

Prominent U.S. base exchange Coinbase has refuted claims of receiving any directives from the Nigerian government to restrict its citizens’ access to the platform. This denial came through a recent statement from the CEO of Coinbase, Brian Armstrong, via the social media platform X.

Armstrong responded to a report claiming the Nigerian government had blocked its citizens’ access to three prominent crypto trading platforms, including Coinbase, Binance, and Kraken.

“This is inaccurate with respect to Coinbase, as far as I can tell. Coinbase products are still operating (no interruption). We haven’t received any outreach or communication from officials in Nigeria,” Armstrong remarked.

Notably, the controversy started earlier this week when Nigerians expressed their frustration on the social media platform X about their inability to access their preferred cryptocurrency trading platforms. Some had to resort to virtual private networks (VPNs) to access the crypto exchanges.

Consequently, speculation arose suggesting that the Nigerian Communications Commission (NCC), which regulates internet service providers, had instructed telecom companies to restrict access to these cryptocurrency exchanges.

According to the UK media outlet Financial Times, the decision was aimed at stemming the decline of Nigeria’s local currency, NGN, which has been experiencing a continuous decline for several months.

However, no authoritative source confirmed that the government had ordered access to Coinbase, Binance, and Kraken to be restricted. Besides, subsequent updates from some Nigerians on X suggested that these crypto exchanges remain accessible, countering reports that suggest otherwise.

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

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