Nigeria’s Crypto Thaw: It’s Not What It Seems

Crypto regulation in most of Africa is inevitable as governments accept that trying to stop the activity is futile. Note that Nigeria has become the second most “crypto” economy in the world, according to Chainalysis’ global adoption rankings, even after a blanket ban on crypto firms accessing fiat. For many of Africa’s youth, crypto trading is one of the few sources of income available. And for economists terrified of losing value amid painful inflation and free-falling devaluation, holding crypto assets can be not only a lifeline, but a way to access few dollars.