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SEC moves to tax cryptocurrency transactions in Nigeria with new rules

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SEC moves to tax cryptocurrency transactions in Nigeria with new rules

19 Feb, 2025

The Securities and Exchange Commission (SEC) is currently developing new rules aimed at ensuring that all eligible transactions on regulated cryptocurrency exchanges are brought into the formal tax net. According to a Bloomberg report, the SEC disclosed this in an email response to the publication’s questions. SEC stated that the proposed rules are designed to capture tax revenue from cryptocurrency transactions, which have gained widespread popularity among Nigeria’s youthful and tech-savvy population..........….......READ MORE