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KuCoin halts P2P naira trading on compliance - BUSINESSDAY

MAY 16, 2024

KuCoin, a cryptocurrency exchange platform, has temporarily paused its Peer-to-Peer naira services and Fast Buy service via naira cards to proritise compliance.

In a statement on Wednesday, KuCoin said, “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.”

The crypto platform said its “temporary pause” on P2P function for Nigerian users is for it to “focus on ensuring compliance and creating a more robust and secure environment for all our users.”

“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,” it added.

KuCoin becomes the third crypto platform to disable its P2P function to Nigerian users, following Binance and OKX disablement of their P2P to Nigerian users.

Earlier in February, the biggest cryptocurrency platform disabled its P2P function, and exited the Nigerian market, after its website was blocked.


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