Nigeria, Nov. 21 -- Nigeria's Federal Government has officially included virtual currencies in its new tax framework, marking a major shift in how digital assets such as cryptocurrencies will be treated under the country's fiscal laws.

The announcement was made by the Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, during an online public lecture hosted by the Capital Market Academics of Nigeria on Wednesday.



Oyedele explained that the updated reform law clearly places tax obligations on virtual currencies. At the same time, he noted that gains made within the regulated capital market remain fully exempt, a policy he believes should encourage young Nigerians to look toward formal investment channe...