Luno reinsert deposit and withdrawal function for Nigerian customers- denies user speculation-
Luno reinsert deposit and withdrawal function for Nigerian customers- denies user speculation-
One of the leading cryptocurrency exchanges of the African continent, Luno, has informed its Nigerian users that they are "in the process of restoring the deposit and withdrawal functions on our platform". According to an email sent to Nigerian users, this re-hiring will probably be “in the coming weeks”.
luno is not in direct communication with CBN
as a target = "_ blank" https://guardian.ng/news/nigerian-crypto-traders-to-be-able-deposit-funds-son-luno/ "noopener"> test report from The Guardian. Seven months after the central bank of Nigeria (CBN) instructed the banks to exclude cryptocurrency companies from the bank ecosystem. As a result, some users in Nigeria speculated that this announcement means that the CBN will reverse this decision.
Owen Odia, Lunos Country Manager for Nigeria, contested this. In an explanation to Bitcoin.com News, he suggested that the mere sending of the emails do not mean that the exchange in CBN discussions about the cancellation of his Directive to banks.
The Luno manager confirmed, however, that Luno worked with other Nigerian interest groups to find a solution that "gives priority to the security of its customers".
he explained:
In terms of Luno's commitment to the CBN, we have not had a direct conversation with you in this regard. However, we have hired relevant interest groups in Nigeria, who can work together with the government and the supervisory authorities to find a quick and suitable solution.
odia emphasizes that Luno is unable to comment on the plans of the CBN regarding its directive, but his organization continues to hope that "this situation will be solved".
crypto regulatory framework in work
After the abrupt decision of the CBN, locking out cryptocurrency units from the banking system became Luno one of the few stock exchanges that committed to support the Nigerian authorities in the search for the right regulatory framework for crypto. Although there were no reports of real progress on this front, Luno's announcement still indicates that the stock exchange may have made a compromise with the Nigerian supervisory authorities.
crypto enthusiasts in Nigeria are now waiting for the reinstatement of the deposit and withdrawal function to find out whether the CBN has reversed its decision.
What do you think of this announcement of Luno? Tell us your opinion in the comment area below.
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