Quidax discontinues P2P trading as Nigeria’s crypto rules tighten
- Quidax has discontinued its peer-to-peer (P2P) trading feature after five months of operation.
- The decision was influenced by user preference for faster trading options like instant swaps and order-book trading.
- The SEC has paused the licensing process for crypto exchanges, indicating regulatory challenges in Nigeria.
The discontinuation of Quidax's P2P trading feature highlights the significant regulatory hurdles faced by crypto startups in Nigeria. This move may signal a broader trend where startups prioritize compliance over innovative offerings, potentially stifling growth in the crypto sector. Further discussion is needed on how regulatory frameworks can evolve to support innovation while ensuring investor protection.
