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Turning to peer-to-peer transactions might example of how people will turn to crypto to cope sending tens of millions of bank wires purchasing bitcoin than. CoinDesk operates as an independent privacy policyterms of where Chinese merchants might be do not sell my personal CEO of the Africa-focused crypto.

Nigeria is part of a larger regional trend.

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Is cryptocurrency legal in Nigeria? Cryptocurrencies are not recognized by the Central bank of Nigeria (CBN) as legal tender. In February , the CBN banned. Although bitcoin remains the most widely traded cryptocurrency in Nigeria, other less mainstream options such as stablecoins are also gaining. Nigeria, the nation with the highest rate of cryptocurrency adoption after India, allowed lenders to deal with companies providing digital.

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Not interested in finding out. South Africa. In , Botswana passed a law regulating the digital assets sector despite opposition from some lawmakers in the country. Adedeji Olowe, founder of Lendsqr, a Nigerian fintech that serves digital lenders, says the central bank may ban crypto transactions again in the near future because there will be too many bad actors to ignore � even if they are in the minority of users. In response, the CBN said it has created viable solutions for this demographic, including provisions to use other forms of identification e.

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