Nigerian crypto companies should be cautious as SEC recognises crypto as securities
In the Investment and Securities Act (ISA) 2025, virtual and digital assets are now included under the definition of securities. This means that cryptocurrencies are officially perceived as securities by the Nigerian Securities and Exchange Commission (SEC).
This development has been met with excitement by many in the crypto space, as it gives cryptocurrencies a formal legal standing in Nigeria. While this recognition is a step forward for crypto and the service providers building around it, there may be more reasons for caution than celebration.
Nigeria is not the first country to recognise crypto as a security. In 2020, the United States SEC sued Ripple Labs in a landmark case that reshaped how regulators approach…
