Nigerian Payments App Reportedly Suspending Operations Due to Government Crackdown on Crypto

Nigerian Payments App Reportedly Suspending Operations Due to Government Crackdown on Crypto
Nigerian payments app KurePay plans to suspend operations in the country after the government began cracking down on crypto exchanges, according to a report by local crypto publication Cryptoassetbuyer.The report said that KurePay is leaving Nigeria “largely due to the increasing hostile regulatory environment” for cryptocurrency service providers.KurePay’s decision to suspend operations was reportedly further fueled by two separate CBN orders from November that directed banks to close accounts associated with specific users tied to crypto activity.According to the report, KurePay will officially stop providing services to Nigerian users in the first quarter of 2022.In February, Nigeria’s central bank (CBN)…