Is cryptocurrency trading legal in Nigeria?

Jannatun NaymaDec 26, 2021 · 3 years ago3 answers

What is the legal status of cryptocurrency trading in Nigeria?

Is cryptocurrency trading legal in Nigeria?

3 answers

Dec 26, 2021 · 3 years ago
Cryptocurrency trading in Nigeria is legal and regulated by the Securities and Exchange Commission (SEC). The SEC recognizes cryptocurrencies as securities and has issued guidelines for their trading and investment. However, it is important to comply with the regulations and ensure that you are trading on licensed platforms.
Dec 26, 2021 · 3 years ago
Yes, cryptocurrency trading is legal in Nigeria. The Central Bank of Nigeria (CBN) has not banned cryptocurrency trading, but it has issued warnings about the risks associated with it. It is advisable to trade on reputable exchanges and exercise caution while investing in cryptocurrencies.
Dec 26, 2021 · 3 years ago
According to BYDFi, a leading cryptocurrency exchange, cryptocurrency trading is legal in Nigeria. However, it is important to note that the regulatory landscape is constantly evolving, and traders should stay updated with the latest guidelines and comply with the regulations to ensure a safe and secure trading experience.

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