NRS Makes Tax ID Mandatory for Crypto Accounts

The Nigeria Revenue Service (NRS) has directed Virtual Asset Service Providers (VASPs) and peer-to-peer (P2P) escrow operators to make a valid Tax Identification Number (Tax ID) a mandatory requirement for activating new customer accounts. The directive is contained in the Guidelines on the Taxation of Virtual Assets , released on Monday as part of the government’s new framework for regulating and taxing cryptocurrencies, stablecoins, tokenised assets, and other digital assets.