When you hear VASP Nigeria, a Virtual Asset Service Provider registered under Nigeria’s crypto regulations. Also known as crypto exchange operator, it refers to any business that handles crypto transfers, trading, or custody within Nigeria — from local exchanges to peer-to-peer platforms. This isn’t just a label. It’s a legal requirement. Since 2021, Nigeria’s Securities and Exchange Commission (SEC) has demanded that all crypto platforms register as VASPs to operate legally. Without it, they’re operating in the gray — and users risk losing funds with no recourse.
Why does this matter to you? If you’re trading Bitcoin on a Nigerian app, sending USDT to a friend, or using a local exchange to buy crypto, you’re interacting with a VASP. But not all VASPs are equal. Some follow strict KYC and AML rules, report transactions to regulators, and keep user funds separate. Others? They don’t. The difference can mean the difference between a safe trade and a vanished wallet. And it’s not just about exchanges. Even P2P traders who regularly facilitate crypto swaps for others can be classified as VASPs — and face fines or shutdowns if they skip registration.
Related entities like crypto licensing Nigeria, the official process for VASPs to gain legal status under Nigerian law, and crypto regulations Nigeria, the rules enforced by the SEC and Central Bank to control crypto risks are tightly linked. You can’t understand one without the others. Licensing isn’t just paperwork — it’s about accountability. It forces platforms to prove they have security measures, anti-fraud systems, and real customer support. And when the government cracks down on unlicensed platforms — like it did with several P2P apps in 2023 — it’s the unregistered VASPs that vanish overnight.
What you’ll find in the posts below aren’t just news snippets. They’re real cases: how Nigerian traders adapted after restrictions, why some platforms shut down while others thrived, and what happens when a VASP ignores compliance. You’ll see how this connects to global trends — like the UK’s AML rules or Georgia’s mining licenses — and why Nigeria’s approach is both unique and increasingly strict. This isn’t about theory. It’s about what’s happening right now, to real people, with real money. If you’re using crypto in Nigeria, you need to know who’s behind the platform you’re using — and whether they’re legally allowed to be there.
Nigeria's new crypto tax law takes effect January 1, 2026. Learn what transactions are taxable, who must comply, how enforcement works, and what steps to take now to avoid penalties.
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