The Nigerian government has passed a new tax law that allows for the traceability of cryptocurrency transactions and their inclusion in the tax declaration system. – Lookonchain – Looking for smartmoney onchain

On January 13, TechCabal reported that Nigeria’s government will link cryptocurrency transactions to real identities via a new tax law, using Tax Identification Numbers (TINs) and National Identity Numbers (NINs). This allows crypto transactions to be traced and integrated into the tax reporting system without compromising the underlying blockchain. Virtual Asset Service Providers (VASPs) are required to collect and report customers’ TINs/NINs, names, addresses, and other details. They must submit mandatory monthly transaction reports to tax authorities, and notify law enforcement of large or suspicious transactions.

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