Nigeria SEC Classifies Bitcoin & Cryptocurrencies as Securities: Key Details

Nigeria has made a groundbreaking change in its financial landscape by officially classifying cryptocurrencies and virtual assets as securities. This marks a significant milestone in the country’s evolving relationship with digital currencies, with the Nigerian Securities and Exchange Commission (SEC) playing a pivotal role. On Ma, Nigeria took a decisive step toward regulating its fast-growing cryptocurrency sector. President Bola Tinubu signed the long-awaited Investments.

Under the ISA 2025, virtual assets like Bitcoin are officially classified as securities. This means that the Nigerian Securities and Exchange Commission (SEC) will oversee exchanges and trading platforms dealing with cryptocurrencies. The revised legal and regulatory framework now classifies digital assets as securities in Nigeria, meaning that the Nigerian SEC will primarily oversee exchanges.

The ISA 2025 positions Nigeria as a leader in the global cryptocurrency landscape, with the SEC aiming to retain its “Signatory A” status under the International Organization of Securities Commissions (IOSCO). This classification brings Bitcoin and other cryptocurrencies under the same regulatory umbrella as traditional financial instruments.

In a major policy shift, Nigeria has officially recognized cryptocurrencies as securities. The SEC clarified that it would not be the entity responsible for monitoring utility token spot trading and transactions. “The SEC will regulate crypto-token or crypto-coin". This new regulatory approach aims to provide a clearer framework for cryptocurrency businesses operating in Nigeria, fostering innovation while protecting investors. Learn more about how the Nigeria SEC is regulating Bitcoin and other crypto assets.