nigeriacrypto

У Нігерії, країні з одним із найвищих показників прийняття криптовалют у світі, влада зробила значний крок до посилення регулювання. Згідно з новими постановами, криптобіржі тепер зобов'язані розкривати дані про своїх клієнтів та всі їхні транзакції. Це рішення викликало неоднозначну реакцію, але має чітку мету.
Центральний банк Нігерії (CBN) та інші регуляторні органи запровадили ці вимоги для боротьби з відмиванням грошей (AML), фінансуванням тероризму (CTF) та іншою незаконною діяльністю. Нові правила передбачають, що платформи повинні:
* Збирати та верифікувати KYC-дані: Детальна інформація про особу користувачів.
* Моніторити транзакції: Відстежувати підозрілу активність та повідомляти про неї відповідні органи.
* Зберігати записи: Вести облік всіх операцій протягом певного періоду.
Цей крок знаменує собою перехід від повної відсутності регулювання до більш контрольованого середовища. Хоча деякі криптоентузіасти побоюються, що це може обмежити інновації та конфіденційність, влада стверджує, що такі заходи є необхідними для забезпечення фінансової стабільності та захисту споживачів. Це важливий прецедент для Африканського континенту, який може вплинути на регуляторні підходи в інших країнах регіону.
⚡️ Щоб залишатися в курсі всіх глобальних змін у крипторегулюванні та їхнього впливу на ринок — підписуйтесь на #MiningUpdates !
#NigeriaCrypto #CryptoRegulation #aml #KYC #Cryptocurrency #FinancialStability #BlockchainNews #Africancrypto #CBN #CryptoExchanges

Nigeria has implemented new regulations under the Nigeria Tax Administration Act (NTAA) 2025 that require crypto transactions to be linked to real-world identities through Tax Identification Numbers (TINs) and National Identification Numbers (NINs).This major shift aims to make cryptocurrency activity traceable for tax purposes, improve compliance, curb tax evasion, and align with global standards like the OECD’s Crypto-Asset Reporting Framework (CARF), which also took effect on the same date.

Key Details of the New RulesVirtual Asset Service Providers (VASPs) — such as licensed crypto exchanges, brokers, and platforms operating in Nigeria — must now:Collect and verify users' TIN (issued by the Nigeria Revenue Service for tax tracking) and NIN (the national biometric ID linked to fingerprints and facial data).
Include these details in monthly reports submitted to tax authorities.

Report transaction specifics: dates, types and values of digital assets, sales values, and counterparty information.
Retain KYC records, transaction histories, and identification data for at least 7 years.

Flag and report large or suspicious transactions to both tax authorities and the Nigerian Financial Intelligence Unit (NFIU).

This doesn't involve direct blockchain monitoring; instead, it relies on centralized reporting from regulated platforms to match crypto flows with individuals' tax records and income declarations.

The move builds on earlier efforts (like the 2022 attempt to tax crypto profits at 10%), which struggled due to difficulty linking anonymous trades to people.

With Nigeria seeing massive crypto volumes — around $92.1 billion in digital assets received between June 2024 and June 2025 — the government wants to capture revenue from this growing sector without banning it.

Broader ContextCrypto remains legal in Nigeria, and this is part of formalizing the market rather than restricting it.

The Central Bank of Nigeria (CBN) lifted its earlier banking restrictions on crypto-related transactions back in late 2023, allowing licensed VASPs to operate with proper oversight from the Securities and Exchange Commission (SEC) and strong KYC/AML rules.

Many Nigerians rely on crypto for remittances, savings, and hedging against inflation, so this could bring more legitimacy and institutional interest.

However, it also means reduced anonymity on regulated platforms — peer-to-peer (P2P) or decentralized options might still offer more privacy, but authorities are pushing for compliance through licensed services.

Overall, it's a big step toward treating crypto like other financial assets: taxable, regulated, and tied to your official identity.If you're a user or trader in Nigeria, expect exchanges to ramp up ID verification requests soon (if they haven't already). What are your

thoughts on this — game-changer for transparency or too much government reach?

#NigeriaCrypto #NigeriaVsBinance

Nigeria crypto Tax law 2026 Summary, Market Impact And Growth Outlook
Key Highlights
A Nigeria crypto Tax Law 2026 is enacted that connects transactions to TIN and NIN.Cryptocurrency exchanges will be required to provide monthly reports to the tax authorities.The country is brought into line with international standards of taxation, such as OECD CARF.
Nigeria Crypto Laws 2026 Update
A new taxation framework under the Nigerian Tax Administration Act (NTAA) 2025 has been passed to regulate digital assets. The law provides a system through which the government can legally monitor, document, and tax cryptocurrency transactions by associating them with Tax Identification Numbers (TINs) and National Identification Numbers (NINs).
Instead of trying to directly track the activities of blockchains, the country will trace activity at the service provider level, which will be transparent without interfering with the security of blockchains. This is one of the greatest changes in the digital regulation of finance in Nigeria.
Within the new framework, the Virtual Asset Service Providers (VASPs) will be required to be registered by the tax authorities and report on a strict basis. These consist of compulsory Know Your Customer (KYC) procedures and the identity check based on TIN and NIN information.
The VASPs are also expected to keep records of transactions and customer identities for at least seven years. These Nigerian crypto tax laws details significantly raise compliance and operational costs. Failure to comply will be severely punished with a fine of up to N10 million and a possible revocation of the license, which will solidify the strict regulatory position.

Source: Wu Blockchain
Nigeria Crypto Market Size
Nigeria is also among the most rapidly developing crypto markets in the world. The Nigeria cryptocurrency market is estimated to have registered a transaction value of $92.1 billion within the period of July 2024 and June 2025. 
Although this number reflects the aggregate amount of transactions and not profits, even partial taxation would open up a lot of government revenue.
As the nation tries to raise its tax-to-GDP ratio from less than 10% to 18% by 2027 in a bid to diversify its economy, which relies on oil, cryptocurrency taxation is a strategic consideration as the country seeks alternative revenue streams. It is clear why Nigeria seeks to tax cryptocurrency transactions as part of a broader fiscal strategy.
What Is the Purpose of the Law?
The main idea of the legislation is to introduce cryptocurrency activity into the formal taxation system. With the connection of cryptocurrency transactions to TINs and NINs, the authorities can now compare the digital asset income with the reported earnings, which curbs tax evasion.
This framework turns crypto into a transparent, auditable activity and forms the foundation of the Nigeria crypto tax summary 2026, without requiring complex blockchain surveillance tools.
What are the Reporting Requirements? Who does It Mainly affect?
Beginning in 2025, VASPs will be required to provide monthly transaction reports, which include:
Categories and kinds of cryptocurrency assets.Dates and values of transactions and sales.The information about the customer identity (name, address, email, phone, TIN, NIN).Counterparty information
The Nigerian Financial Intelligence Unit (NFIU) should also be notified of large or suspicious transactions. The legislation mostly impacts cryptocurrency exchanges, digital asset platforms, brokers, and high-volume Nigerian traders.
The Compliance of this Law with International Standards?
The action is in line with the international standards, such as the Crypto Asset Reporting Framework (CARF) of the OECD, which will come into force on January 1, 2026. 
Like in the UK and EU, now Nigeria has made service providers collect and report taxpayer identity information, which places the country in the new global crypto compliance order.
Impact on the Markets
Though the law is enhancing the legitimacy and investor confidence, it has provoked privacy concerns and escalated compliance expenses. Smaller platforms might not cope, which could hasten the process of market consolidation. 
Nonetheless, more stringent laws would be able to draw institutional investors and promote long-term Nigeria crypto adoption.
Conclusive Remarks
The new law is a historic change in the regulation of digital assets. The government has already established a framework of transparent and enforceable taxation by legally connecting transactions to real identities by requiring the use of TIN and NIN. 

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#NigeriaCrypto #cryptotax #DigitalAssets #NIN #BlockchainRegulation

Nigeria's Blockchain Boost: SEC Explores Tech to Revolutionize Capital Markets

The Nigerian Securities and Exchange Commission is exploring the use of blockchain technology to build trust in capital markets.
Bridging the Trust Gap
The Nigerian Securities and Exchange Commission (SEC) is exploring the use of blockchain technology to build trust in capital markets.
According to Director-General Emomotimi Agama, harnessing this technology is key “to bridging the [trust] gap between issuers and investors.”
At a conference of the Capital Market Correspondents Association of Nigeria, Agama explained how adopting the technology benefits all investors, including those in neglected parts of the country.
“The SEC is exploring the integration of blockchain technology for secure and transparent transaction processing, a step that will redefine trust in the market,” Agama reportedly said.
The revelation that the SEC is weighing the prospect of leveraging blockchain comes as the Nigerian government itself has moved to integrate the technology.
Nigeria adopted a blockchain adoption policy in early May 2023 and a year later reconstituted the blockchain policy steering committee.
Furthermore, in 2022, the country’s National Information Technology Development Agency committed to training 30,000 individuals on blockchain technology.
Nearly two years later, it was announced that the Nigerian Institute of Social and Economic Research (NISER) had partnered with the Japanese tech firm Soramitsu.
The partnership aims to build Nigeria’s knowledge base and support its development through research and innovative blockchain projects.
Meanwhile, a Punch report quotes Agama suggesting that the oversubscription of most recapitalization offers this year indicates strong investor confidence.
To sustain this momentum, the SEC boss said the regulator has “intensified efforts to enhance disclosure standards and corporate governance practices.”
Agama, widely seen as a pro-innovation figure, also suggested that the success of recapitalization efforts will depend on cooperation among stakeholders.
“Developing innovative financial products, such as green bonds and sukuk, to attract diverse investor segments is crucial. The success of recapitalization efforts depends on collaboration among regulators, issuers, and investors,” the SEC director-general said.
#NigeriaCrypto #Blockchain #Bitcoin #cryptomarket #CryptoNews

Attributing the poor performance of tokens launched on the TON ecosystem following airdrops solely or primarily to Nigerians and Indians would be an oversimplification. While their significant participation influences token dynamics, the broader context of airdrop design, market behavior, and TON’s ecosystem maturity suggests a more complex picture. Let’s break this down based on data and trends analyzed earlier, and I’ll offer a reasoned conclusion.

Evidence of Poor Performance
Tokens launched via TON airdrops often exhibit a pattern of initial hype followed by sharp declines:
Notcoin (NOT): Launched May 2024, peaked at $0.028 (market cap ~$2.8 billion), then dropped to $0.015 within weeks, stabilizing around $0.012-$0.015 by late 2024—a 50%+ decline from peak.
TapSwap: Post-airdrop in 2025, its token faced similar sell-off pressure, with anecdotal X reports noting low per-user value and rapid depreciation.
General Trend: TON-based game tokens often see high initial trading volume (e.g., Notcoin hit $1 billion daily volume at launch) but struggle to maintain value, reflecting airdrop-driven speculation rather than sustained utility.
This “pump-and-dump” behavior is common in airdrop-heavy ecosystems, not unique to TON, but amplified by its scale and Telegram integration.
Role of Nigerians and Indians
Nigerians and Indians, estimated at 12-17% of TON’s airdrop participants (5-7 million users), contribute significantly to this dynamic:
High Participation and Selling Pressure:
Economic Incentives: In Nigeria, economic instability (e.g., naira depreciation) drives users to cash out quickly, converting airdropped tokens to stablecoins or fiat. Indian users, while more diverse in intent, also include millions of casual participants who sell post-airdrop for small gains.
Volume Impact: With potentially 1-2.5 million Nigerians and 5-6 million Indians per major airdrop, their collective selling—say, 10-15 billion tokens from a 100-billion-token drop—can flood exchanges like Ston.fi or centralized platforms, depressing prices. For Notcoin, X posts from Nigerian users in May 2024 boasted “dumping NOT for USDT,” mirroring Indian crypto group chatter.
Bot Activity:
Both regions have documented bot-driven farming (e.g., Nigerian TapSwap scripts, Indian Notcoin automation tools on Telegram). This inflates participant numbers, dilutes rewards, and increases sellable supply, exacerbating downward pressure when tokens hit markets.
Short-Term Engagement:
Sentiment on X and Telegram suggests many Nigerians and Indians treat TON airdrops as “hustles” or “side gigs” rather than long-term investments. Post-airdrop, participation drops (e.g., Hamster Kombat’s 60 million players dwindled after hype), reducing buying support and leaving tokens vulnerable to sell-offs.
Counterarguments: Broader Ecosystem Factors
Blaming Nigerians and Indians alone overlooks systemic issues in TON’s airdrop model and token economics:
Airdrop Design:
Massive Supply: Distributing 80%+ of a token’s supply (e.g., Notcoin’s 80 billion NOT) to millions ensures high circulation from day one, inherently risking oversupply and price drops regardless of who sells.
Lack of Lockups: Unlike some ecosystems (e.g., Solana’s early airdrops with vesting), TON projects rarely impose lockup periods, enabling immediate dumping by all participants, not just Nigerians or Indians.
Utility Gap: Most TON tokens (e.g., NOT, TapSwap) lack robust utility beyond speculative trading or basic game mechanics, failing to incentivize holding—a structural flaw, not a demographic one.

Global Behavior:
Selling post-airdrop is a universal crypto phenomenon, seen in Ethereum’s ICO era or Binance Launchpool drops. Participants from Russia, Southeast Asia, and other regions (the remaining 83-88% of TON users) also dump tokens, as evidenced by Notcoin’s $1 billion volume spike across exchanges like Binance, not just TON-native DEXs.
Market Maturity:
TON’s ecosystem, while growing (TVL $757 million, 42 million wallets by late 2024), is still nascent compared to Ethereum or Solana. Its reliance on tap-to-earn games rather than DeFi or infrastructure limits intrinsic demand, making tokens more susceptible to sell-offs from all users, not just specific groups.
Comparative Analysis
Nigerians/Indians vs. Others: If Nigerians and Indians sell 10-15% of an airdrop’s supply, the other 83-88% of participants (41-44 million in a 50-million-user drop) control 85-90 billion tokens. Even if their sell rate is lower (e.g., 20% vs. 50% for Nigerians/Indians), their sheer volume dwarfs the impact. For Notcoin, global sell pressure, not just regional, drove the 50% drop.
Economic Context: Selling aligns with rational behavior given local conditions—Nigeria’s inflation hit 33% in 2024, and India’s crypto users often seek quick arbitrage. Similar urgency exists elsewhere (e.g., Venezuela, Southeast Asia), suggesting a universal driver amplified by TON’s accessibility.
Conclusion
Nigerians and Indians are not responsible for the poor performance of TON tokens post-airdrop in a causative sense; they are contributors within a broader ecosystem dynamic. Their large-scale participation (12-17% of users) and tendency to sell quickly—driven by economic necessity and airdrop farming culture—add significant downward pressure, likely accounting for 10-20% of initial sell-offs in volume terms. However, the primary culprits are structural: oversized airdrops, lack of holding incentives, and weak token utility, which affect all participants globally. Data suggests the remaining 83-88% of users, including bot farms and speculators worldwide, collectively outweigh their impact.
Thus, while Nigerians and Indians amplify token depreciation due to their numbers and behavior, they are not the root caus#e. TON’s ecosystem would likely see similar post-airdrop slumps without their involvement, as seen in other chains with mass distributions (e.g., Aptos’ 2022 airdrop crash). To improve performance, TON projects need tighter supply controls, lockups, and utility—not just a shift in user demographics. Their role is notable but not decisive.
#Airdrop‬ #Sasha #NigeriaCrypto #IndiaCrypto $TON