𝐀𝐫𝐞 $BTC  𝐚𝐧𝐝 𝐂𝐫𝐲𝐩𝐭𝐨 𝐈𝐧𝐟𝐥𝐨𝐰𝐬 𝐑𝐞𝐰𝐫𝐢𝐭𝐢𝐧𝐠 𝐀𝐟𝐫𝐢𝐜𝐚’𝐬 𝐌𝐨𝐧𝐞𝐭𝐚𝐫𝐲 𝐒𝐲𝐬𝐭𝐞𝐦? 🚨🌍

According to the report Nigeria alone received around $59B in crypto inflows between July 2023 and June 2024, accounting for roughly 60% of all stablecoin inflows into Sub-Saharan Africa since 2019.
The IMF warns this may be early-stage “digital dollarization” 👀
If households and businesses increasingly use stablecoins, the Central Bank of Nigeria may lose some ability to influence liquidity conditions through traditional tools. The IMF notes that attempts to suppress stablecoin usage are likely to be only partially effective.
Instead, it suggests a pragmatic approach - regulate the risks, but don’t block the innovation.
#BTC