Nigeria has made significant strides in the field of digital assets, changing its legislation on cryptocurrencies. This article examines the new regulations, licensing, and taxation.
Crypto Regulations in Nigeria 2025
In June 2025, the Securities and Exchange Commission (SEC) released new rules for cryptocurrency service providers. President Bola Ahmed Tinubu signed the ISA 2025 law, classifying cryptocurrencies and digital assets as securities. The laws also require all service providers to register and obtain a license from the SEC.
What the Nigerian Government is Saying About Crypto?
The Nigerian government has expressed its commitment to innovation and security in the cryptocurrency space. The new 2025 law aims to integrate blockchain technology to enhance economic efficiency and transparency. Meanwhile, national banks maintain the power to restrict transactions.
Crypto Licensing in Nigeria 2025
Under the ISA 2025 law, all virtual asset service providers are required to obtain a license from the SEC and comply with anti-money laundering regulations. This includes exchanges, wallets, and token platforms. Companies dealing in cryptocurrencies must use licensed payment partners.
These new rules and legislative changes in Nigeria signify a significant shift in the attitude towards cryptocurrencies. With investor protections and efforts to integrate blockchain, Nigeria is moving towards strengthening its economic foundation in the digital sphere.
