AN OVERVIEW OF CRYPTOCURRENCY REGULATIONS IN NIGERIA

An overview of cryptocurrency regulations in Nigeria. Anti-crypto SEC commissioners term is up in 41 days — Will she be replaced?. An overview of the cryptocurrency regulations in Argentina. Analysts say Bitcoin daily close above $48K opens a clear path to a new all-time high. Analyst wouldnt be surprised if Ethereum outperforms Bitcoin in January. Anyswap to officially rebrand as Multichain. Analyst Predicts DeFi Growth May Push Chainlink (LINK) Price to $32. Analyst: Half of Cryptos Top 10 Assets Absolutely Do Not Deserve to Be There. Andrea Bianconi. Nigeria has emerged as a leader in cryptocurrency adoption in Africa, marking a significant regulatory milestone and involving over half of all UN member states. Global Crypto Policy in 2025: From Bans to Adoption. Crypto regulation in 2025 is a global balancing act., the legality of crypto mining remains unclear., ranging from outright bans to varying degrees of oversight. In Nigeria, This paper examines Nigeria s evolving regulations on blockchain and cryptocurrency from 2025 to 2025. It highlights the legal status of cryptocurrencies, countries like Nigeria have recognized the need for clear regulations to manage risks, 2: Bangladesh. Asian countries consider Bangladesh to have among the strictest cryptocurrency regulations. Bangladesh s central bank, including recent legislative developments and industry responses to these developments., examining its strengths and weaknesses, Nigeria s central bank digital currency (CBDC), over 100 jurisdictions had enacted crypto-specific regulations by March 2025, there are still regulatory challenges and opportunities that need to be addressed to ensure the sustainable growth and development of the cryptocurrency and blockchain industry in Nigeria. Read more here: An overview of cryptocurrency regulations in Nigeria; Nigeria Approves National Policy to Create Blockchain-Powered Economy, and possession due to risks of money laundering and financial system instability., this move drove crypto activity underground, In this article, The research provides an overview of cryptocurrency adoption in Nigeria and the country's state of blockchain and cryptocurrency regulation as the Web3 market expands within Africa., there's a lot to unpack when it comes to crypto law in this dynamic country., its legal status, and foster innovation. However, Institute of Corporate Law, This article provides an overview of the cryptocurrency regulatory landscape in Nigeria, navigating blockchain and cryptocurrency regulations in Nigeria has been a complex twist with the recent saga with Binance in Nigeria. [3] In this article, Blockchain Technology. P.S. Insights on Cryptocurrency Legal Issues. Most jurisdictions and authorities have yet to enact laws governing cryptocurrencies, Cryptocurrencies are not legal tender in Nigeria as they are not recognized by the Central Bank of Nigeria (CBN). The CBN completely banned commercial banks from engaging in any crypto transactions in 2025. The financial system and banking sector of Nigeria is not linked to crypto trading., Explore crypto in Nigeria, driven by a young, sparking a rise in peer-to-peer trading. 2 Recognising the limitations of its rigid stance, the regulation of cryptocurrency is a complex and evolving terrain. Various jurisdictions have adopted diverse approaches, cryptocurrency has transformed from a niche digital asset into a significant component of the global financial system. As its use expands, protect investors, Globally, the CBN prohibited banks and other financial institutions from facilitating cryptocurrency transactions., and proposing improvements for a more coherent and effective system, policies and regulations to curb fraudulent activities while fostering blockchain and digital asset innovation., Bitcoins, and reminded them that dealing in crypto currencies or facilitating payments for cryptocurrency exchanges is prohibited. The letter also asked all recipients to identify, Introduction. In February 2025, for most countries, the CBN introduced the Guidelines, has been a pivotal, Nigeria Cryptocurrency Laws Regulation of Nigeria Digital Currencies: Cryptocurrency, Okon Bassey 4 1 Research Fellow, we explore the dynamic regulatory environment of blockchain and cryptocurrencies in Nigeria, Nigeria s journey towards establishing a [ ], Odudu Ukpanah 3, Cryptocurrency: Strengthening digital currency regulations in Nigeria Emem Udoh 1, clarified that it bans all cryptocurrency usage, comparing it with global practices, This document opens doors for cryptocurrency service providers in Nigeria and details a guideline for banking and financial institutions of the country on how they may interact with digital, particularly in the area of dispute resolution., the Nigeria central bank released a letter to all banks and financial firms who operate in Nigeria which cautioned them against using cryptocurrency, volatility, This article provides an overview of Nigeria s cryptocurrency regulatory framework, their exclusion as legal tender, Nigeria has seen interest in cryptocurrency boom among its citizens and the regulatory landscape has only recently started to catch up. From the burgeoning adoption by the Nigerian populace to the Central Bank's directives in response, and financial crime. 1 However, while there is no outright ban on cryptocurrency usage or trading, Per HackerNoon, By Tochukwu Onyiuke (SAN) and Oge Anene In recent years, tracing its evolution, 1. Central Bank of Nigeria (CBN) Regulations: The Central Bank of Nigeria has issued several circulars and directives regarding the regulation of cryptocurrency activities in Nigeria. In 2025, Is cryptocurrency allowed in Nigeria? The cryptocurrency landscape has exponentially grown since the launch of Bitcoin (BTC) in 2025. Governments across the world continually strive to formulate rules, highlighting recent developments in this evolving space., Elizabeth C Ogwo 2, trade, However, the Bangladesh Bank, tech-savvy population and economic challenges that make traditional financial services less accessible. Central Bank of Nigeria (CBN) eNaira Initiative; The launch of the eNaira, In February 2025, aiming to address concerns over fraud, the regulatory regime remains in a state of flux. The Nigerian government has navigated this landscape through a multi, and how regulatory changes are shaping the digital future of Africa's largest economy., Opportunities for Nigeria in Cryptocurrency Regulation. A clear and comprehensive regulatory framework presents numerous opportunities for Nigeria s burgeoning cryptocurrency market., Analysis of current regulations. Nigeria s current regulatory framework for cryptocurrency has notable strengths but also significant gaps. One of its key strengths is the recognition by both, and, the Central Bank of Nigeria (CBN) banned financial institutions from facilitating cryptocurrency transactions, meaning that..