The Nigerian government has recognized Bitcoin as a security through legislation.

GateUser-6433627c · 2025-05-01T13:06:38+00:00

The Nigerian government officially recognizes the legal status of Bitcoin and other digital assets by incorporating them into the securities category through the 2025 Investment and Securities Bill. The bill grants the Nigerian SEC the authority to regulate virtual asset service providers and strengthens the crackdown on Ponzi Schemes, with violators facing hefty fines and imprisonment.

GateUser-6433627c

2025-05-01 13:06:38

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[The Nigerian government recognizes Bitcoin as a security] Nigerian President Tinubu signed the Investment and Securities Act 2025 last month, officially classifying Bitcoin and other digital assets as securities. This marks the first official recognition of Bitcoin’s legal status by Nigerian regulators. The new legislation will grant the Securities and Exchange Commission of Nigeria (SEC) regulatory authority over virtual asset service providers (VASPs), digital asset operators (DAOPs), and digital asset exchanges (DAEs). The bill also takes a strong stance against Ponzi schemes, with violators facing fines of at least 20 million Naira (approximately 12,430 dollars) and up to 10 years in prison.

BTC3.31%

ACT5.18%

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