Crypto regulation in most of Africa is inevitable, as governments accept that trying to stop activity is futile. Note that Nigeria became the world’s second most “crypto” economy, according to the 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 very few available sources of income. And, for savers terrified of losing value amid painful inflation and freefall devaluation, holding crypto assets can be not just a lifeline, but also a way to access scarce dollars.
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