Nigerian president signs order on approach to crypto regulation, taxes
Nigeria’s president signed an executive order to streamline digital asset oversight, saying it will harmonize regulation across financial, revenue, and capital market agencies while protecting users from fraud and supporting innovation. The order creates a virtual asset council led by top regulators and directs the tax authority to update digital asset tax policy. It does not create a new regulator or shift existing powers; instead, it coordinates agencies and ties registration requirements to the specific asset and activity, aiming to curb unregistered operators. The move comes as Nigeria leads Africa in crypto adoption, especially stablecoins, with major inflows reported by the IMF. Tax rules have already begun tightening, including requirements for crypto providers to link transactions to tax and identification numbers.
