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Nigeria’s Finance Act 2023 includes a 10% tax on gains from disposing digital assets like cryptocurrencies, aiming to modernize the fiscal framework and enhance transparency. However, this raises challenges in valuation, tracking transactions, and international complexities, highlighting the need for clear guidelines, education, and support for taxpayers.

The Nigerian government’s recent approval of the National Blockchain Policy has garnered enthusiasm from the local crypto community. The policy aims to facilitate the development of the Nigerian digital economy, impacting areas like governance, policymaking, digital identity management, and e-payments while promoting overall economic growth.