See Social Media Reactions To CBN’s New Crypto Circular

CBN Approves Reduction In Banks' CRR

The Central Bank of Nigeria (CBN) has fallen into hot water over its announced ban on processing cryptocurrencies by financial institutions.

In the released statement, the apex bank said that Deposit Money Banks (DMBs), Non-Bank Financial Institutions (NBFIs), Other Financial Institutions, and the public were cautioned against processing cryptocurrencies refers.

The statement has sparked a conversation on the microblogging platform Twitter.

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Nigerians on social media have fumed against the move by the CBN, stating that it was a disruptive move to the current crop of financial enthusiasts in the country.

Here are some of the reactions:

https://twitter.com/the_mgician/status/1357699350382673921

See the circular below:

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