Changpeng Zhao, the founder and leader of the world’s biggest crypto exchange, Binance, has posted a list of the top 5 countries to start a career side by side with the bottom 5 (worst) countries to start a career.
The top 5 in descending order include United Kingdom, Germany, Canada, U.S A, and Japan while the bottom 5 are listed as Uruguay, Nigeria, Libya, Syria, and Yemen.
It is interesting to note that the countries listed in the top 5 all legally recognize and accept cryptos, while the bottom 5 countries do not accept or legally recognize the fast ever-changing financial asset.
This is coming on the background that Nigeria’s apex bank recently prohibited regulated institutions from dealing in cryptocurrencies or facilitating payments for cryptocurrency exchanges.
What this means: The recent directive of the CBN will surely put Nigeria in the bad light among the international crypto community, taking into consideration Nigeria is among several countries that were ranked as worst for starting a career, coupled with many Nigerian youths now finding it hard to thrive in a country that attracts the highest interest in Bitcoin globally.
Sequel to the founder’s tweet, Binance had already temporarily suspended deposits in Nigeria’s local currency in response to the recent circular released by Nigeria’s central bank (CBN) instructing Nigerian commercial banks and other financial institution to identify and close all accounts tied to crypto or crypto exchanges
Changpeng Zhao anticipates that the Nigerian banks will stop working with Crypto exchanges in line with the Nigerian Apex bank directive, meaning P2P trading will likely flourish as a result.
He further advised Nigerian customers to withdraw their local denominated deposits as early as possible to avoid potential channel issues.