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Nigeria has unveiled an ambitious plan to regulate its fast-growing virtual asset market. The move aims to bring more than $92bn in annual cryptocurrency transactions under formal oversight, boost investor confidence, and widen the tax net.

The proposal, outlined in a new government White Paper, introduces a coordinated regulatory system designed to capture the scale of digital asset activity already embedded in everyday financial transactions. However, experts have warned that gaps regarding offshore platforms and enforcement could test thNigeria has unveiled an ambitious plan to regulate its fast-growing virtual asset market. 

The move aims to bring more than $92bn in annual cryptocurrency transactions under formal oversight, boost investor confidence, and widen the tax net.The proposal, outlined in a new government White Paper, introduces a coordinated regulatory system designed to capture the scale of digital asset activity already embedded in everyday financial transactions. However, experts have warned that gaps regarding offshore platforms and enforcement could test