Nigeria’s new crypto tax policies may not drive the revenue it needs

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Coin Telegraph 1d ago

Nigeria’s new crypto tax policies may not drive the revenue it needs - Coin Telegraph

Quick Summary:

As Nigeria grapples with economic challenges, the government is set to introduce a tax on cryptocurrency transactions.

This move appears to be an effort to tap into the burgeoning digital economy and the informal sector.

Maksym continues: “While taxing crypto is not out of place, most crypto traders in the country have lost faith in the government and might find a way to bypass these taxation provisions.