2026-01-13 00:23:46

The Nigerian government has introduced a new policy that links crypto transactions with real identities through tax identification numbers and national ID numbers. What does this mean? Your on-chain transactions are no longer completely anonymous, and transaction data directly enters the tax system. The key point is that they don't need to crack the blockchain itself but control it from the source— all virtual asset service providers must collect and report user information. In other words, transactions are traceable, and tax declarations cannot be escaped. This move has a significant impact on the entire African crypto market, indicating that regulation is gradually penetrating from the technical level to the identity level.

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

18 Likes

Reward
18
9
Repost
Share

Comment

0/400

ProxyCollector

· 01-15 14:13

Oh no, this is the end. If Nigeria takes action, other countries will follow suit. African people's freedom is once again diminished. This move is too ruthless; there's no need to confront blockchain directly. They just choke the exchanges, and compliance becomes mandatory—no choice. The supposed anonymity on the blockchain has now become a joke.

View OriginalReply0

GasBandit

· 01-15 13:29

Oh no, Nigeria's move is really ruthless, directly cutting us off at the source of identity. The African crypto scene is about to change; without anonymity, it's no longer interesting. Now those who want to profit need to reconsider their strategies; service providers all have to cooperate with reporting, there's no way to hide. So, self-custody wallets are the way to go, but most small investors still have to use exchanges. Regulation is like a virus; once it starts in one place, it will spread, and other African countries are not far behind. Hey brothers, do we still have any truly private channels for deposits and withdrawals?

View OriginalReply0

MEVHunter

· 01-15 09:21

Wow, this is the real way to cut off the source. It's not about cutting the transaction itself, but directly cutting it off from the upstream mempool. Controlling from the source is always smarter than breaking the chain; these guys understand governance logic.

View OriginalReply0

GateUser-9f682d4c

· 01-15 04:15

Oh my, Nigeria is directly cutting off the back road. Virtual asset traders' identities are completely exposed once reported. Really, they don't fight against the chain at all, directly cutting off the source. Clever. Now African friends will have to reconsider their strategies; anonymity is completely gone. So, regulatory directions are all the same—starting from the identity level. Technical aspects are actually not the main focus. Nigeria's move is indeed ruthless, essentially bringing the entire ecosystem into the tax system. If this continues, P2P will become even more popular, but the risks will also increase.

View OriginalReply0

ChainProspector

· 01-13 00:53

Wow, Nigerian traders are probably about to blow up... Controlling from the identity level is really brilliant. --- Regulation is so clever; there's no need to attack the chain directly, just block the exchanges, and it's done. --- Friends in Africa might need to change their approach; the anonymous method is becoming less and less feasible. --- Requiring real identity tied to tax ID... This is to make everyone report taxes willingly, there's no escaping it. --- Blocking at the source is smarter; it's much more effective than technical measures. --- It feels like this move might be copied by other countries, and the freedom of encryption could gradually shrink. --- Virtual asset service providers are forced to become middlemen, which is a bit frustrating for them. --- Is the entire African market about to undergo a reshuffle? Or will someone find a way to bypass it? --- Regulation at the identity level is indeed more aggressive; no matter how advanced the technology, they have to bow. --- Nigeria's move is very precise; there's really little room left for traders to operate.

View OriginalReply0

ContractHunter

· 01-13 00:52

Nigeria's move is indeed fierce, directly targeting virtual asset providers, leaving no room for a breather. On-chain transaction data integrated into the tax system... now African crypto users will have to rethink, as the era of anonymity is truly coming to an end. From technical infiltration to identity verification, this combination punch is quite effective, but it also exposes KYC as the ultimate regulatory weapon. It seems that other African countries will follow suit sooner or later, as this is the real "nowhere to hide on the chain."

View OriginalReply0

LiquidationSurvivor

· 01-13 00:49

Damn, Nigeria's move is really ruthless, directly blocking from the exchange side, there's no way to run Friends in Africa need to think about what to do now, privacy is completely gone Once regulation starts using identity as a tactic, it never ends Direct connection of the tax system to blockchain data? This thing needs to be pushed slowly, or exchanges could be overwhelmed Honestly, the government is smarter at cracking down on the source than breaking the chain. We were too naive before With this policy in place, it's hard to say how many exchanges in the entire African ecosystem can survive Anonymity is gone, what’s the point of cryptocurrencies anymore? LOL

View OriginalReply0

DefiOldTrickster

· 01-13 00:48

Oh no, Nigerian crypto enthusiasts will have to trade with their tails between their legs now. Controlling from the source is indeed ruthless and much smarter than directly blacklisting the chain. I've always said that identity is the final fortress, and now it has become a breakthrough point for regulation. But on the other hand, this also serves as a lesson for those who want to whitewash — your little "privacy" tricks have long been understood by the government.

View OriginalReply0

SmartContractWorker

· 01-13 00:46

Now the dream of anonymous transactions is completely gone; Nigeria's move is indeed ruthless. They don't bother with technical confrontation at all; they directly cut off the service providers at the source, and you can't escape. Friends in Africa will probably have to start recalculating.

View OriginalReply0