One of the remarkable things about this moment isn't that Bitcoin and digital assets are going

to save everyone from the follies of local currency regimes.

What's remarkable is that for the first time ever in the entire span of human history,

there is a convenient, easy, permissionless off-ramp from those regimes for those people who

have the technical know-how to do it.

The number of people who have that know-how is an ever-expanding group, and that means that Bitcoin and digital

assets add an X-factor to every single currency crisis from here on out. Welcome back to the

breakdown with me, NLW. It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.

The breakdown is sponsored by nexus.combe, and Exodus, and produced and distributed by CoinDes.

What's going on, guys? It is Monday, March 22nd, and today we are discussing when currencies fail,

Bitcoin Google searches in Turkey quadruple as the lira crashes. First up, however, let's do the brief.

Is Nigeria backing down from their crypto ban? The Central Bank of Nigeria has issued a clarifying statement.

A couple weeks ago, they came out with a statement basically saying, hey guys, look,

cryptocurrencies have been banned for the last three years. Banks, you have to stop servicing

the people with crypto accounts. This clarifying statement, however, said that they had never,

in fact, banned cryptos and indeed had never even discouraged people

from trading them. Instead, quote, what we have just done was to prohibit transactions on

cryptocurrencies in the banking sector. So they're trying to say that this was specifically

about a replacement, I think, for the Naira in financial transactions. That's what they

had prohibited. This Nigeria situation

has been really interesting to watch as many in Parliament reacted not positively to the CBN's

new ban or new ban talk, but instead called for them to come and testify before Parliament.

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