Nigerian NDIC Warns That Cryptocurrencies Lack Consumer Protections
The Nigerian Deposit Insurance coverage protection Firm (NDIC) has warned Nigerians that they gained’t be afforded shopper protections when shopping for and promoting digital currencies. NDIC representatives moreover reaffirmed that the Nigeria’s monetary regulators are unable to exert have an effect on over the cryptocurrency markets.
Moreover Be taught: North Korean Residents Study Cryptocurrencies at Pyongyang School
The Nigerian Deposit Insurance coverage protection Firm Warns In the direction of Cryptocurrencies
Mohammed Umar, the director of study, protection and worldwide relations on the NDIC, has outlined the hazards it perceives are associated to purchasing and promoting cryptocurrencies, together with emphasizing that regulators don’t current insurance coverage protection defending the hazards associated to purchasing and promoting digital currencies not issued by the Central Monetary establishment of Nigeria (CBN).
Speaking at an annual workshop for finance correspondents on “financial disruption of digital overseas cash and it’s…