Nigeria Links Crypto Transactions to National Tax IDs
Crypto transactions are becoming more common in Nigeria, from everyday trading to business payments. As crypto use continues to grow, the government is taking steps to bring it into the country’s tax system.
With this new move, crypto transactions are no longer operating in a grey area.
What the New Law Is About
Nigeria has passed a new tax law that links crypto activity to Tax Identification Numbers (TIN) and National Identity Numbers (NIN). The idea is to ensure that crypto can be traced for tax purposes while maintaining blockchain security and integrity. The government holds crypto platforms liable rather than putting wallets on the blockchain. It makes enforcement easier and more realistic.
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