Chain News Daily Today TheBitTimes.com

Nigeria has called on BRICS to switch to trading in local currencies and refrain from using the US dollar for cross-border transactions. During a meeting at the BRICS trade forum held in Brazil, Nigeria’s House Committee on Foreign Affairs, Wole Oke, said that the alliance must begin investing in each other’s economy to maintain equal economic stability for all. At the trade forum, he urged BRICS to reduce usage of US dollar transactions and begin payments in local currencies. He also urged the bloc to reduce dependency on Western powers and uplift the economies of developing countries. Also Read: BRICS Will Meet in July To Unveil Most Ambitious Plan: US Congressman “Strengthening BRICS trade is no longer optional, it is a necessity. We must trade more with each other, invest in one another, and build a trade ecosystem that puts our people first,” he said, stressing that the time to use local currencies for trade is ripe. The lawmaker proposed BRICS to create a new establish...

The SEC issued a notice on Friday, July 28, ordering all crypto platform providers to cease soliciting Nigerian citizens. The SEC restated a previous warning about a company named Binance Nigeria Ltd., which Binance had previously clarified was not associated with them. However, in the recent notice, the SEC specifically mentioned the crypto exchange’s website. The official announcement from the Nigerian SEC reads: advertisement The Commission again reiterates that the activities of Binance, https://www.binance.com and any such other platform through which the Company solicits investors is neither registered nor regulated by the Commission and its operations in Nigeria are therefore illegal. Any member of the investing public dealing with the entity, making such solicitation is doing so at his/her own risk. The Nigeria n SEC, as the regulatory authority responsible for investor protection, issues a warning to the public about the high level of risk associate...