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Indonesia vs Nigeria

Crypto regulation comparison

← Back to map | Indonesia | Nigeria
Indonesia

Indonesia

Nigeria

Nigeria

Legal
Legal

Cryptocurrency is legal in Indonesia and classified as a commodity (not currency). Bappebti regulated crypto since 2019, but authority transitioned to OJK (Financial Services Authority) in January 2025. Under PMK 50/2025 (effective August 2025), crypto transactions incur a 0.21% final income tax via domestic exchanges (1% via foreign platforms). VAT on crypto transfers was abolished as crypto was reclassified as digital financial assets.

Nigeria has the highest crypto adoption rate in Africa and among the highest globally. After the CBN banned banks from servicing crypto exchanges in 2021 (driving activity to P2P), the ban was lifted in December 2023. The SEC Nigeria now regulates digital asset exchanges and issuances under its Accelerated Regulatory Incubation Programme (ARIP). Nigeria's progressive rates up to 25% applies to crypto disposals.

Tax Type Varies
Tax Type Capital gains
Tax Rate 0.21% (domestic exchange) / 1% (foreign platform)
Tax Rate Progressive: up to 25% (individuals) / 30% (companies)
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator OJK (Otoritas Jasa Keuangan) since January 2025
Regulator SEC Nigeria, CBN (Central Bank of Nigeria)
Stablecoin Rules Crypto traded as commodities; stablecoin-specific rules under development with OJK transition
Stablecoin Rules Stablecoins subject to SEC digital asset rules
Key Points
  • Crypto regulated by OJK since January 2025, transitioned from Bappebti
  • 0.21% final income tax on (PPh Art. 22) crypto transaction value for sales per PMK 50/2025
  • VAT abolished under PMK 50/2025; reclassified as digital financial assets
  • Only crypto assets approved and listed by Bappebti can be traded on licensed exchanges
  • Indonesia launched a national crypto exchange (Bursa Kripto Indonesia) in 2023
Key Points
  • CBN lifted the 2021 banking ban on crypto in December 2023
  • SEC Nigeria oversees VASPs under the Investments and Securities Act and ARIP
  • Progressive rates up to 25% applies to profits from crypto asset disposals according to Nigeria Tax Act 2025 (eff. Jan 2026)
  • Nigeria ranks among the top 5 globally for crypto adoption (Chainalysis index)
  • P2P trading dominates the market; Binance and other platforms face regulatory scrutiny
Sources
Sources