Algorithmic Ratings & Investment Analysis
© ARIA 2025
by aria-ratings.com
July 18, 2025 at 06:02
Crypto Landscape in Nigeria: A Regulatory Transformation by 2025
Nigeria is advancing its regulatory framework around cryptocurrencies, formally recognizing them as securities by 2025.
This significant policy shift comes after years of ambivalence towards digital assets, with prior restrictions dating back to 2017.
The new legal structure, outlined in the Investments and Securities Act (ISA) 2025, mandates that all virtual asset service providers (VASPs) get licensed by the Securities and Exchange Commission (SEC).
With this move, Nigeria aims to foster innovation while ensuring investor protection and compliance with international standards.
The SEC's new regulations also require comprehensive due diligence and adherence to anti-money laundering (AML) and know your customer (KYC) protocols.
Currently, Nigeria boasts one of the highest rates of crypto adoption, with approximately 32% of the population engaged in cryptocurrency use.
Moreover, the country expects its current crypto revenue of $2.4 billion to grow steadily, reaching $2.5 billion by 2026.
The taxation of crypto transactions has been clarified, imposing taxes on activities like trading and mining, in line with the classification of digital assets as securities.
As the regulatory landscape evolves, Nigeria is positioning itself for increased integration of blockchain technology across various sectors.
If these regulatory initiatives succeed, Nigeria's economy could gain substantial momentum, potentially setting a precedent for other nations in the crypto arena.
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