The Nigerian government has implemented new regulations for digital assets under the Investments and Securities Act 2025 (ISA 2025). The SEC now has authority to regulate digital assets, requiring exchange operations, custody, and offerings to be licensed and overseen.
The Amended Digital Assets Rules expand regulatory definitions, spelling out activities that must be licensed. Virtual Asset Service Providers (VASPs), digital asset exchanges (DAXs), custodians, and intermediaries are subject to these regulations.
Licensed platforms meet requirements for capital reserves, anti-money-laundering procedures, cybersecurity standards, investor protection mechanisms, and ongoing reporting and audits.