Nigeria has formally recognized cryptocurrency and other virtual assets as securities for the first time.
President Bola Tinubu’s recent enactment of the Investment and Securities Act (ISA) 2025 ushers in a new era of regulatory clarity for the country’s digital asset ecosystem, which has been clouded in uncertainty for more than a decade.
The new law not only acknowledges virtual assets and investment contracts as securities but also places Virtual Asset Service Providers (VASPs), Digital Asset Operators (DAOPs), and Digital Asset Exchanges under the regulatory oversight of the Securities and Exchange Commission (SEC).