PRESIDENT TINUBU SIGNS EXECUTIVE ORDER ON VIRTUAL ASSETS

[PostQuantumBTC]

PRESIDENT TINUBU SIGNS EXECUTIVE ORDER ON VIRTUAL ASSETS, ESTABLISHES COUNCIL TO HARMONISE REGULATION OF DIGITAL ECONOMY
July 18, 2026 on Latest News, Press Releases
https://statehouse.gov.ng/president-tinubu-signs-executive-order-on-virtual-assets-establishes-council-to-harmonise-regulation-of-digital-economy/

This is to harmonise the regulation of virtual assets, strengthen cooperation among the nation’s financial, revenue and capital markets agencies, protect citizens from fraud, and safeguard the integrity of the financial system while enabling responsible innovation.

There are more things that you should read about it on the government website.

Can citizens be protected from crypto fraud? Governments of the United States, EU and other countries are still trying bit fraud keeps increasing. How will the government protect citizens against crypto fraud.

[Nathrixxx]

This is to harmonise the regulation of virtual assets, strengthen cooperation among the nation’s financial, revenue and capital markets agencies, protect citizens from fraud, and safeguard the integrity of the financial system while enabling responsible innovation.

I am excited about this news because of one thing, and I'm also not excited at the same time because of another reason, which I will state both below.

1. The country seems to be going in line with cryptocurrency. I want to see more concentrated efforts in allowing every operator to participate in what could make them regulate the sector; you can remember how, of recent, the allow for some exchanges to operate in the country.

2. We are going to lose our privacy when it comes to dependency on some of these platforms they are going to permit for operation in Nigeria; not that alone, there might be exorbitant tax on every crypto user once the regulator establishes that you are involved in digital currency.

[PostQuantumBTC]

2. We are going to lose our privacy when it comes to dependency on some of these platforms they are going to permit for operation in Nigeria; not that alone, there might be exorbitant tax on every crypto user once the regulator establishes that you are involved in digital currency.

Anyone that registered on the exchanges with their KYC, they are no longer having privacy with every transactions they are making on the exchanges and the coins that can be connected to the transactions they make on the exchanges.

But the government want registered exchanges to link Nigerians on the exchanges with their tax identification number.

[Joy- maker]

Can citizens be protected from crypto fraud? Governments of the United States, EU and other countries are still trying bit fraud keeps increasing. How will the government protect citizens against crypto fraud.

If truth be told, Nigeria citizens cannot be fully protected from crypto fraud, what is more important is the fact that the Nigeria government have finally taken steps to regulate virtual assets which is a welcome development. Because one of the reason why some major businesses and Nigerian investors are not investing in cryptocurrencies like Bitcoin is because the Nigeria government is not regulating  virtual assets in the country.

[Mhizlove]

Can citizens be protected from crypto fraud? Governments of the United States, EU and other countries are still trying bit fraud keeps increasing. How will the government protect citizens against crypto fraud.

If truth be told, Nigeria citizens cannot be fully protected from crypto fraud, what is more important is the fact that the Nigeria government have finally taken steps to regulate virtual assets which is a welcome development. Because one of the reason why some major businesses and Nigerian investors are not investing in cryptocurrencies like Bitcoin is because the Nigeria government is not regulating  virtual assets in the country.

Honestly, I agree because without clear rules and the government recognition, alot of serious investors and businesses will naturally stay away because of how uncertain the situation is. Also regulation can help give the industry more legitimacy and will also help to create a safer environment for those who genuinely want to be part of those people who want to participate. It will can not remove every risk, but can help the crypto space to grow in a more responsible and organised manner.

[Charles-Tim]

If truth be told, Nigeria citizens cannot be fully protected from crypto fraud, what is more important is the fact that the Nigeria government have finally taken steps to regulate virtual assets which is a welcome development. Because one of the reason why some major businesses and Nigerian investors are not investing in cryptocurrencies like Bitcoin is because the Nigeria government is not regulating  virtual assets in the country.

When they did not support bitcoin and other cryptocurrencies, Nigerians have their ways around to buy and sell. It was the government that were losing from taxes that supposed to be paid. They are doing this not for many other reasons than to collect taxes.

If people like, they should not protect their coins, when it has been lost, it can be in a way that the government can not help, especially if the money involved is low, the government does not care.

[Hypnotizer]

Can citizens be protected from crypto fraud? Governments of the United States, EU and other countries are still trying bit fraud keeps increasing. How will the government protect citizens against crypto fraud.

Well the government can reduce the amount of crypto or virtual assets related fraud with proper regulation and policies in place, even though these scammers are still trying day by day to improve their scamming methods with the proper regulations and framework in place they’ll still find it difficult to exploit the citizens through these kinds scams. This might probably be the reason for this executive order.

And let me not forget to mention, protection from these scams are also the responsibility of the citizens themselves, if the government provides the framework then the citizens should also try as much o as possible to stop chasing quick profits and stop being greedy.

[Charles-Tim]

Well the government can reduce the amount of crypto or virtual assets related fraud with proper regulation and policies in place, even though these scammers are still trying day by day to improve their scamming methods with the proper regulations and framework in place they’ll still find it difficult to exploit the citizens through these kinds scams. This might probably be the reason for this executive order.

This is what people use to confused themselves. How has the scam reducing? Yes, it supposed to be higher than what it is now, but it is still getting higher.

And let me not forget to mention, protection from these scams are also the responsibility of the citizens themselves, if the government provides the framework then the citizens should also try as much o as possible to stop chasing quick profits and stop being greedy.

This is what people should let others know, the government can not eliminate crypto scam. You can still what the government listed in their website which is a lie:

This is to harmonise the regulation of virtual assets, strengthen cooperation among the nation’s financial, revenue and capital markets agencies, protect citizens from fraud, and safeguard the integrity of the financial system while enabling responsible innovation.

Protecting citizens from crypto fraud? That is a big lie.