Africa Abandons Crypto Bans, Regulates Digital Assets Instead

Nigeria, South Africa, and Kenya have shifted their stance on cryptocurrencies from restricting activity to introducing regulatory frameworks.

The shift reflects growing use of stablecoins for remittances, savings, and cross-border payments across Africa.

Between July 2024 and June 2025, Sub-Saharan Africa received over $205 billion in on-chain cryptocurrency value, with Nigeria accounting for $92.1 billion.

Nigeria's Investments and Securities Act 2025 classified digital assets as securities and granted regulatory authority to the country's Securities and Exchange Commission.