Nigeria has officially recognized cryptocurrency as an asset class, signaling a major shift in its approach to digital currencies. President Bola Ahmed Tinubu recently signed an amendment to the Investment and Securities Act (ISA 2025), bringing virtual assets under the regulatory purview of the Nigerian Securities and Exchange Commission (SEC). This landmark decision classifies cryptocurrency as a security, requiring Virtual Asset Service Providers (VASPs) to register with and adhere to SEC regulations. The move is expected to foster innovation within the fintech space while simultaneously providing investor protection. The Nigerian SEC believes the amended law will attract significant domestic and international investment into the country's burgeoning cryptocurrency market. This new legal framework provides clarity and legitimacy to the cryptocurrency sector in Nigeria, potentially unlocking further growth and adoption. It remains to be seen how the specific regulations will be implemented and enforced, but the initial response has been largely positive from the crypto community. ```

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