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For many years, Nigeria's cryptocurrency market operated within a fragmented and uncertain legal and regulatory landscape. Although digital assets enjoyed widespread adoption, there was little legislative certainty regarding their legal status, regulatory oversight or the rights and protections available to investors. That position has changed significantly with the enactment of the Investments and Securities Act 2025 ("ISA 2025").
For the first time, the ISA 2025 expressly recognises digital and virtual assets within Nigeria's securities regulatory framework and places qualifying activities involving those assets under the supervision of the Securities and Exchange Commission ("SEC"). This represents a significant milestone in the development of Nigeria's digital asset ecosystem. It provides a clearer legal foundation for cryptocurrency-related businesses, enhances regulatory oversight and offers greater protection to investors participating in the market.
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