Nigeria's New Law Will Classify Bitcoin as a Security

BlockBeats News, May 1st, according to Forbes report, Nigerian President Tinubu signed into law last month the Investment and Securities Act 2025, officially classifying Bitcoin and other digital assets as securities, marking the first official recognition of Bitcoin's legal status by Nigerian regulatory authorities.

The new law will empower the Nigerian Securities and Exchange Commission (SEC) with regulatory oversight over Virtual Asset Service Providers (VASPs), Decentralized Autonomous Organizations Providers (DAOPs), and Decentralized Asset Exchanges (DAEs). The law will also crack down on Ponzi schemes, with offenders facing a minimum of 20 million Naira (approximately $12,430) in fines and up to 10 years in prison.