OKX has delisted Naira from its P2P trading due to a change in local market requirements. On May 3rd, 2024, Nigerian traders discovered they could no longer trade with the Nigerian Naira on the OKX cryptocurrency exchange.

The news came as a surprise to many, as the crypto exchange did not formally notify traders of the change. Instead, it responded to a Twitter post, explaining the reason for delisting Naira. Following the departure of Binance, Nigerian crypto traders turned to alternative exchanges for their transactions, with OKX being one of the preferred choices.

The delisting of Naira from OKX's P2P trading platform is likely to have implications for Nigerian traders who rely on the exchange for their cryptocurrency trading needs. While OKX has not provided specific details about the nature of the changes in local market requirements, it is speculated that the decision aligns with regulatory compliance with Nigerian laws.

The Nigerian government's fight against crypto transactions, attributing cryptocurrency as a cause for the devaluation of the Naira, has been a tough one.

It appears that the government's stance is unwavering, as evidenced by recent actions. Earlier this week, fintech institutions like Palmpay, Opay, and Kuda issued memos to all their customers, highlighting directives from the Central Bank of Nigeria (CBN) to cease all digital asset transactions, including crypto. Instructions have been issued to block accounts found in violation of these directives.