Nigeria is revising regulations to allow taxation on cryptocurrency and digital transactions

On February 18th, according to Bloomberg, Nigeria is revising regulations to allow taxation on cryptocurrency and digital transactions, with the aim of increasing fiscal revenue. The Nigerian Securities and Exchange Commission stated that it is developing new rules to ensure that all eligible transactions can enter regulated exchanges and be included in the formal tax system, "the agency said in an email response to questions. At present, the bill on taxing cryptocurrency transactions and introducing other taxes has been submitted to legislators and is expected to be passed this quarter.