Nigeria's Cryptocurrency Crackdown Will Have Consequences, Experts Say

FILE - The Binance app icon is seen on a smartphone, Feb. 28, 2023, in Marple Township, Pa. Nigeria has banned end-to-end transactions involving its currency, the naira, on the Binance cryptocurrency exchange platform.

Economic analysts and crypto enthusiasts are raising concerns following Nigeria's ban on end-to-end transactions — a type of payment processing — involving its currency, the naira, on the world’s largest cryptocurrency exchange platform, Binance.