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Nigeria vs Nepal

Crypto regulation comparison

← Back to map | Nigeria | Nepal
Nigeria

Nigeria

Nepal

Nepal

Legal
Banned

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.

Nepal has banned cryptocurrency trading, mining, and transactions. The Nepal Rastra Bank declared crypto trading illegal in 2017, and the Nepal Telecommunications Authority has been directed to block crypto exchange websites. Law enforcement has arrested individuals for operating crypto exchanges. Despite the ban, some citizens use VPNs to access crypto.

Tax Type Capital gains
Tax Type None
Tax Rate Progressive: up to 25% (individuals) / 30% (companies)
Tax Rate N/A
Exchanges Yes Yes
Exchanges No No
Mining Yes Yes
Mining No No
Regulator SEC Nigeria, CBN (Central Bank of Nigeria)
Regulator NRB (Nepal Rastra Bank)
Stablecoin Rules Stablecoins subject to SEC digital asset rules
Stablecoin Rules All crypto activities banned
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
Key Points
  • NRB declared all crypto trading and transactions illegal in 2017
  • Mining cryptocurrency is also prohibited
  • NTA directed to block access to crypto exchange websites
  • Arrests have been made for operating crypto trading platforms
  • NRB exploring a central bank digital currency (CBDC) as an alternative
Sources
Sources