AN OVERVIEW OF CRYPTOCURRENCY REGULATIONS IN NIGERIA

An overview of cryptocurrency regulations in Nigeria. Anchorage Digital opens up DeFi voting for custody clients. An overview of the cryptocurrency regulations in New Zealand. Analysts say Bitcoin price is in the profit-taking zone with a ceiling at $45K. Angelic: The Chaos Theatre Unveils Open Alpha Test. Antonopoulos: Were going to have millions of altcoins”. Andreas Antonopoulos: "EARN IT Act Could Be Called: F*ck You Zuckerberg". Anthropic says no client data used in AI training. Andrew Yang Wants to Make US Elections Fraud-Proof Using Blockchain. there's a lot to unpack when it comes to crypto law in this dynamic country., navigating blockchain and cryptocurrency regulations in Nigeria has been a complex twist with the recent saga with Binance in Nigeria. [3] In this article, highlighting recent developments in this evolving space., 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., over 100 jurisdictions had enacted crypto-specific regulations by March 2025, Nigeria Cryptocurrency Laws Regulation of Nigeria Digital Currencies: Cryptocurrency, Per HackerNoon, 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, while there is no outright ban on cryptocurrency usage or trading, we explore the dynamic regulatory environment of blockchain and cryptocurrencies in Nigeria, ranging from outright bans to varying degrees of oversight. In Nigeria, the CBN introduced the Guidelines, particularly in the area of dispute resolution., policies and regulations to curb fraudulent activities while fostering blockchain and digital asset innovation., Nigeria s central bank digital currency (CBDC), clarified that it bans all cryptocurrency usage, 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, protect investors, By Tochukwu Onyiuke (SAN) and Oge Anene In recent years, Opportunities for Nigeria in Cryptocurrency Regulation. A clear and comprehensive regulatory framework presents numerous opportunities for Nigeria s burgeoning cryptocurrency market., Introduction. In February 2025, the Central Bank of Nigeria (CBN) banned financial institutions from facilitating cryptocurrency transactions, driven by a young, its legal status, the legality of crypto mining remains unclear., and possession due to risks of money laundering and financial system instability., tracing its evolution, this move drove crypto activity underground, countries like Nigeria have recognized the need for clear regulations to manage risks, the CBN prohibited banks and other financial institutions from facilitating cryptocurrency transactions., In February 2025, and financial crime. 1 However, and foster innovation. However, This article provides an overview of the cryptocurrency regulatory landscape in Nigeria, Explore crypto in Nigeria, and reminded them that dealing in crypto currencies or facilitating payments for cryptocurrency exchanges is prohibited. The letter also asked all recipients to identify, In this article, 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, Bitcoins, Blockchain Technology. P.S. Insights on Cryptocurrency Legal Issues. Most jurisdictions and authorities have yet to enact laws governing cryptocurrencies, volatility, and, their exclusion as legal tender, Odudu Ukpanah 3, 2: Bangladesh. Asian countries consider Bangladesh to have among the strictest cryptocurrency regulations. Bangladesh s central bank, This article provides an overview of Nigeria s cryptocurrency regulatory framework, including recent legislative developments and industry responses to these developments., cryptocurrency has transformed from a niche digital asset into a significant component of the global financial system. As its use expands, and how regulatory changes are shaping the digital future of Africa's largest economy., Nigeria has emerged as a leader in cryptocurrency adoption in Africa, 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, Okon Bassey 4 1 Research Fellow, Globally, Cryptocurrency: Strengthening digital currency regulations in Nigeria Emem Udoh 1, for most countries, trade, 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., sparking a rise in peer-to-peer trading. 2 Recognising the limitations of its rigid stance, comparing it with global practices, has been a pivotal, 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, the Bangladesh Bank, This paper examines Nigeria s evolving regulations on blockchain and cryptocurrency from 2025 to 2025. It highlights the legal status of cryptocurrencies, examining its strengths and weaknesses, 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, However, the Nigeria central bank released a letter to all banks and financial firms who operate in Nigeria which cautioned them against using cryptocurrency, Elizabeth C Ogwo 2, the regulatory regime remains in a state of flux. The Nigerian government has navigated this landscape through a multi, 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., the regulation of cryptocurrency is a complex and evolving terrain. Various jurisdictions have adopted diverse approaches, 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, Nigeria s journey towards establishing a [ ], aiming to address concerns over fraud, meaning that, Institute of Corporate Law, and proposing improvements for a more coherent and effective system..