The Central Bank of Nigeria has slammed restrictions on cryptocurrency transactions. The apex bank disclosed this in recent guidelines on its website for operating cryptocurrency accounts known as Virtual Assets Service Providers. According to the guidelines, cryptocurrency accounts shall be used for only virtual/digital assets and not for any other purpose. Accordingly, CBN barred cash withdrawals from cryptocurrency and noted that no third-party cheques should be cleared. “Current trends globally have shown a need to regulate the activities of virtual asset service providers, which include c…