CBN Bars Banks From All Transactions in Virtual Currencies and Bitcoin

The Central Bank of Nigeria, CBN, Tuesday, banned banks from all transactions in bitcoin and other virtual currencies. A circular signed by the apex bank’s director, financial policy and ‎regulation department, Kelvin Amugo, stated that the move wasnecessitated by money laundering and terrorism financing risks inherent in operations of virtual currencies.“The emergence of Virtual via IFTTT