- Coinbase denies reports that it has been blocked in Nigeria despite government restrictions on other crypto platforms.
- The Nigerian government has been ramping up restrictions on crypto trading platforms, ordering banks to close related accounts.
- Though other exchanges like Binance and Kraken seem impacted, Coinbase claims its platform remains fully accessible in Nigeria.
Coinbase has denied reports that it has been blocked in Nigeria. The crypto exchange says it is still operating in the country despite government restrictions on other platforms.
Multiple outlets reported this week that Coinbase had been blocked in Nigeria along with other major crypto exchanges like Binance and Kraken. However, Coinbase says it is still functioning normally in the country.
Nigerian Government Blocks Crypto Platforms
The Nigerian government has been ramping up restrictions on crypto trading platforms. Earlier this month, the country’s securities regulator ordered local banks to close accounts tied to crypto exchanges. Now the government appears to be outright blocking access to platforms like Binance and Kraken.
Coinbase Says Service Continues in Nigeria
Despite the restrictions, Coinbase claims it is still accessible in Nigeria. “We are aware of the reports that Coinbase has been blocked in Nigeria,” a spokesperson said. “However, Coinbase has not received communication from regulators about limiting our services.” The company says Nigerian users can still access all products and services on its platform.
Other Exchanges Also Dispute Block
Binance and Kraken have also pushed back on reports of being blocked. Kraken said it is “still very much operational” in the country. Binance said its platform remains accessible despite “stuttering connectivity.”
Nigerian Regulators Remain Silent
Nigerian financial authorities have not publicly commented on the purported crypto blocks. The lack of official confirmation makes the status unclear. For now, major exchanges claim they can still operate in the country normally.
Conclusion
The Nigerian government appears to be expanding its crypto crackdown. While some exchanges like Binance and Kraken seem impacted, Coinbase asserts its platform remains fully accessible despite the regulatory turbulence. The situation remains fluid as Nigerian authorities stay silent on the scope of restrictions.
