Bitcoin is wooing the millions of workers who send their earnings abroad
Nowhere is this more evident than in Nigeria, where the central bank is so concerned that Nigerians are choosing cryptocurrencies in lieu of naira for transfer payments overseas that they are now being paid to use official channels for those transfers instead. The central bank announced the program after international remittance inflows declined last year as more Nigerians abandoned official banking channels by turning to cheaper cryptocurrency exchanges. The move followed a nationwide crackdown on banks trading cryptocurrencies that the government enacted to counter the depreciation of the naira.
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