Popular cryptocurrency trading platform, KuCoin, has announced the temporary deactivation of its peer-to-peer (P2P) function for Nigerian users and the delisting of the Nigerian Naira from its platform.
News About Nigeria reports that the announcement follows the clampdown on cryptocurrency platforms by the federal government.
In a statement released on its official website today, KuCoin revealed that the suspension will take effect from today (Wednesday, 15 May 2024).
It stated that it looks forward to resolving the issue and resuming the P2P Nigerian Naira (NGN) services.
The statement partly reads, “Starting from 2024-05-15 08:00 (UTC), we will temporarily suspend all P2P Nigerian Naira (NGN) services and Fast Buy service via Naira cards. Ongoing orders will be completed normally, and all other services will remain available.
“Rest assured that your assets are safe at KuCoin. During this temporary pause, we will be focusing on ensuring compliance and creating a more robust and secure environment for all our users.
“We are fully aware of the impacts caused, and we want to express our gratitude for your understanding and cooperation as we navigate through this change together. The KuCoin team is committed to resolving this matter swiftly and efficiently. We are eagerly looking forward to resuming the P2P Nigerian Naira (NGN) services and fast buy service via Naira cards in a fully compliant manner.”
While appreciating its customers, the cryptocurrency platform assured of its commitment to building a vibrant and thriving trading ecosystem where customers’ satisfaction is a priority.
