Nigeria Launches Coordinated Regulatory Framework for Virtual Assets

Nigeria's President has signed a Presidential Executive Order establishing a coordinated Virtual Asset Council chaired by the Central Bank, with the SEC and Revenue Service as vice-chairs, to harmonise regulation across fragmented agencies and close gaps exploited by fraudulent operators. The framework creates a Virtual Asset Office for day-to-day coordination and supervisory technology integration, establishes registration by activity type, and launches a regulatory sandbox and tax policy for virtual assets.

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