This one na big move wey Nigeria government take recently through one new law wey dem call:

• Investment and Securities Act (USA) 2025
  
  The Law go change plenty things for crypto space, especially how Bitcoin and other crypto assets dey treated.
  
  1. Bitcoin & Crypto Now Get Legal Backing
  
  Before:
  
  • CBN say banks no fit allow crypto transactions (2021 ban)
  • Crypto no be legal or illegal, e just dey for grey area
  
  Now:
  
  • Bitcoin don officially become "a regulated investment" under Nigeria law
  • Na Securities and Exchange Commission SEC go now regulate am
  So Bitcoin don move from "underground hustle" to "official investment asset"
  
  2. Exchanges Must now Register with SEC
  
  Any crypto exchange (like Binance, Luno, Kucoin wey wan operate for Nigeria now must register and get license from SEC as
  
  That means:
  
  • Dem go do KYC (Know Your Customer)
  • Dem go follow anti-money laundering (AML) laws
  • Dem go pay tax like normal financial institutions
  
  No be play again. If you no get license, SEC fit come after you.
  
  3. Crypto Transactions Now Fit Be Traced and Taxed
  
  As crypto don enter official investment zone:
  
  
  • Government go now dey monitor transactions more
  • You fit need to pay capital gains for tax if your Bitcoin grow in value
  • They go dey ask where the crypto come from and who send am, etc.
  
  If you dey cash out ₦5M worth of Bitcoin, dem go want know the origin
  
  4. Investors Now Get Legal Protection (But na Two Edged Sword)
  
  Now wey Crypto don legal:
  
  
  • If exchange run you scam or run with your money, you fit go court legally under SEC rule.
    
  • But at the same time, if you run fraud using Bitcoin, dem fit now arrest you faster because everything don enter legal system.
    
    BUT: The problem still never finish
    Even with all this:
  • Banks still dey freeze people account wey dem suspect of crypto
  • SEC never really approve many exchanges to operate freely
  • Law dey ground but the implementation still dey slow
  
  
  So for now, na still half leg in, half leg out.
  If everything dey normal now, It will be a big win for crypto future in Nigeria, even though road still rough small because.
  
  
  • You as investor get more protection, but government go still dey monitor your movement
  • E go reduce scam for space, but you must do things in legit way
  
  Source: https://nairametrics.com/2025/04/04/isa-2025-nigeria-formally-recognizes-cryptocurrency-as-securities-in-new-sec-act-2025/