Binance will discontinue its naira (NGN) services in response to heightened regulatory scrutiny in Nigeria, it said in a blog post today.
The cryptocurrency exchange will begin delisting any existing NGN spot trading pairs by Thursday, March 7.
Any remaining NGN balances in users’ spot and funding wallets will be converted to USDT on Friday, March 8, it noted.
This development follows recent regulatory actions by the Nigerian government, which imposed restrictions on both local and foreign cryptocurrency exchanges, including Binance.
What followed was the reported detention of two Binance officials after they were invited to Nigeria to discuss the regulatory restrictions.
Apple’s warnings in late October that Indian journalists and opposition figures may have been targeted by state-sponsored attacks prompted a forceful counterattack from Prime Minister Narendra Modi’s government.
Behind closed doors, senior officials from Modi’s administration went further, demanding Apple soften the political impact of the warnings, Washington Post reports.
Senior officials summoned Apple representatives to insist they provide alternative explanations, even flying in an Apple security expert to meet with ministry leaders, the report adds.
For Apple, maintaining its commitment to user security took priority over risks to its growing India business.
Apple, which opened two official stores in India this year, plans to move 25% of iPhone production to India by 2025, according to JP Morgan analysts.
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