June 15 (Cointime) - Nigeria has recently allowed banks and forex market actors to trade the nation's currency, the naira, freely. This move could have implications for crypto traders, as fluctuations in the value of the naira against other currencies, including cryptocurrencies, may impact the profitability of crypto trades. Increased volatility could result in wider bid-ask spreads, making it more expensive to buy or sell cryptocurrencies using the naira. To mitigate any possible negative effects of this new policy on the crypto market and the economy at large, the Nigerian government could introduce cryptocurrency policies to foster a more liquid and efficient trading environment.