2026-01-13 12:36:10

Nigeria has introduced the latest tax legislation, imposing stricter regulatory requirements on cryptocurrency trading platforms. According to the new regulations, all operating trading platforms must establish mechanisms to link user identities with trading activities to ensure that every transaction is traceable.

The new policy requires platforms to submit monthly compliance reports and conduct real-time monitoring and reporting of suspicious transactions. This initiative aims to enhance financial transparency and combat illegal activities such as money laundering. For crypto platforms operating in Nigeria or serving local users, compliance with these regulations has become mandatory. This move also reflects the global trend in cryptocurrency regulation—from free development to compliant management.

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

5 Likes

Reward
5
4
Repost
Share

Comment

0/400

MechanicalMartel

· 4h ago

Nigeria's move is really aggressive, but anyway, compliance will come sooner or later, so adapting in advance isn't a bad idea. --- Traceable transactions? Then some people better start panicking... LOL --- Monthly reports, real-time monitoring, this will truly test the platform's technical capabilities. --- Here we go again, under the guise of "combating money laundering," but in the end, it's just exploiting retail investors. --- It really depends on the policy trends in Africa; it might even become a new trendsetter. --- As for compliance, some find it troublesome, but I think as long as you can survive longer, that's enough. After all, wild growth can't last forever. --- Nigeria is quick to act, but honestly, someone has to break the deadlock between freedom and regulation.

View OriginalReply0

LiquidationKing

· 4h ago

Nigeria is at it again, now with traceability. Platforms will have to honestly disclose their cards. On-chain privacy, what’s that? Everyone has to use real-name verification... the compliance trend is here. Monthly reports, real-time reporting—small platforms are going to struggle with this combo. From complete decentralization to being monitored layer by layer, the contrast is quite stark. So now running to other countries can help avoid KYC? It feels like treating the symptoms rather than the root cause. One country, one rule—platforms have a tough time... Otherwise, why are some still desperately engaging in unlicensed transactions?

View OriginalReply0

GovernancePretender

· 4h ago

Nigeria's recent moves seem to be forcing platforms to exit... --- Again tracing and reporting, is privacy going to disappear? --- Compliance sounds good in theory, but it actually means they are watching us very closely --- Monthly report? Can we really keep up with this pace? --- Bullish on transparency, Bearish on privacy tbh --- So now trading a coin also requires monitoring, what kind of experience is this... --- The world is intensively regulating, there's no way to avoid it --- A bunch of platforms will probably shut down, the small ones definitely can't hold on --- Why must they link identities? What's the point of decentralization? --- Fighting money laundering is a good thing, but these methods are indeed a bit outrageous

View OriginalReply0

GateUser-3824aa38

· 4h ago

Nigeria is really coming this time... Exchanges must adapt or get out With KYC and monthly reports, the days of freedom are probably over If this continues, the threshold for exchanges will become higher and higher, making it even harder for small investors It seems the whole world is tightening up; I've seen this trend coming long ago Traceability... the nightmare for privacy enthusiasts is here Compliance sounds nice, but it's really just a tightening spell How many people in Nigeria still dare to play on such platforms?

View OriginalReply0