VICTORIA, Seychelles, May 16,
2024 /PRNewswire/ -- KuCoin, a leading global cryptocurrency
exchange, announced a key step forward in its ongoing compliance
efforts in Nigeria. As part of its
commitment to providing secure and compliant trading options,
KuCoin will be temporarily suspending all Peer-to-Peer (P2P)
Nigerian Naira (NGN) services and Fast Buy service via Naira cards
starting from May 15, 2024, at
08:00 UTC
This decision marks another significant move by KuCoin to ensure
full compliance with local regulations, reflecting its dedication
to legal and secure operations. This follows its recent
registration as the first global exchange to successfully
register with the Financial Intelligence Unit (FIU) in India, underscoring the commitment to meeting
regulatory standards worldwide.
For the time being, KuCoin will focus on
ensuring all systems are meeting the compliance
requirements set by Nigerian authorities, with the goal of
providing the best products and services responsibly to our users
according to the standards of their respective jurisdiction.
KuCoin CEO Johnny Lyu stated,
"Our decision to temporarily suspend these services is a proactive
step towards being compliant to Nigerian
regulations. Which aligns with our global strategy
of providing a safe, secured and transparent trading
environment for all of our users. We are committed to
Nigeria and working diligently with the Nigerian
authorities."
Meanwhile, KuCoin assures all users that their assets remain
safe and secured and all other services will continue to
operate normally.
For more information, please visit KuCoin's official
website.
About KuCoin
Launched in September 2017, KuCoin
is a global cryptocurrency exchange with its operational
headquarters in Seychelles. As a
user-oriented platform with a focus on inclusiveness and community
action reach, it offers over 900 digital assets and currently
provides Spot trading, Margin trading, P2P Fiat trading, Futures
trading, and Staking to its 31 million users in more than 200
countries and regions. In 2023, KuCoin was named one of the Best
Crypto Exchanges by Forbes and recognized as a highly commended
global exchange in Finder's 2023 Global Cryptocurrency Trading
Platform Awards. Learn more at https://www.kucoin.com/.
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