Crypto Regulation In Nigeria 2025
2025-07-02 14:54:18
Main Idea
Nigeria has established a regulatory framework in 2025 that classifies cryptocurrencies as securities under the Nigerian SEC, introducing licensing, taxation, and compliance requirements for virtual asset service providers (VASPs).
Key Points
1. The Investments and Securities Act (ISA) 2025 recognizes digital assets as securities, replacing the 2007 law and bringing them under SEC oversight.
2. VASPs targeting Nigerian users must apply for a license and comply with AML and KYC obligations under Section 357 of ISA 2025.
3. Crypto is taxable in Nigeria, with capital gains tax (10%), income tax (7%-24% for individuals, 30% for companies), and VAT (7.5% on platform fees).
4. Retail users must undergo mandatory KYC, while developers and businesses must ensure compliance with SEC regulations to avoid penalties.
5. Nigeria's crypto adoption rate is about 32%, with projected growth, and the country is now considered crypto-friendly under SEC oversight.
Description
The post Crypto Regulation In Nigeria 2025 appeared first on Coinpedia Fintech News Nigeria usually ranks among the top countries in terms of crypto adoption. The country that instructed banks and other financial institutions to avoid using, holding, or transacting virtual assets in 2017 has now built a regulatory framework to consider crypto as securities in 2025. Individuals can now use crypto as money to buy goods and services while complying with the Nigerian rules related to digital assets....
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