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Nigeria Revises Regulations to Tax Cryptocurrency Transactions in February 2025, Plans Full Licenses for Exchanges

Nigeria is revising its regulations to tax cryptocurrency and digital transactions as part of a broader effort to enhance fiscal revenue
By: DeepNewz • February 18, 2025
Nigeria Revises Regulations to Tax Cryptocurrency Transactions in February 2025, Plans Full Licenses for Exchanges

Nigeria is revising its regulations to tax cryptocurrency and digital transactions as part of a broader effort to enhance fiscal revenue. The Nigerian Securities and Exchange Commission (SEC) is developing new rules to incorporate cryptocurrency deals into the formal tax system. Lawmakers are expected to adopt a regulatory framework within the current quarter. Additionally, the government plans to grant full licenses to cryptocurrency exchanges, marking a significant step towards formalizing the sector and increasing compliance among regulated exchanges.

This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz.

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