Crypto never sleeps, and neither does the news. Each week, we’ll break down the biggest stories shaping the global and Nigerian crypto markets so you can stay ahead. Here’s what happened this week
Latest Crypto News in Nigeria this Week
Quick Summary:
- CBEX collapse: After Nigerian investors lost over $800 million to Crypto Bridge Exchange which shut down withdrawals, the EFCC is warning people against “too good to be true” crypto schemes.
- New law (ISA 2025): Crypto is now officially treated as securities, giving regulators more power to punish Ponzi operators and force more transparency from companies.
- Altcoin buzz: Nigerian traders are chasing STBL, HEMI, and XPL, which all saw huge gains, though experts warn prices could drop just as fast.
- Tax talk: Nigeria may begin taxing crypto trades to raise government revenue.
- Regulators watch Binance: The exchange is still under scrutiny over past tax evasion claims, with the outcome likely to affect how global and local platforms operate in Nigeria.
1. Fraud, Ponzi Schemes & the Government’s Response
The fight against crypto scams in Nigeria is heating up. The Government is taking precaution about scams, and warning citizens to beware as well. This is majorly because of CBEX (Crypto Bridge Exchange), a platform that suddenly stopped withdrawals and is said to have locked up more than $800 million of users’ money.
According to the Financial Times, the Economic and Financial Crimes Commission (EFCC) has started awareness campaigns to warn people about “too good to be true” crypto investment offers. To make sure the message reaches as many people as possible, they are even working with churches, mosques, and community groups.
At the same time, a new law called the Investment and Securities Act (ISA 2025) has been introduced.
This law makes it clearer that crypto is treated like a financial security and gives regulators more power. It requires crypto companies to be more transparent, and it sets punishments for those running Ponzi schemes.
Still, many Nigerians are doubtful. They worry that even with stronger rules, the money lost to scams may never be recovered, and fraudsters may not be punished enough.
2. Altcoin Craze: STBL, HEMI, XPL Trend Big
The latest Crypto news in Nigeria this week also revolves around a hot new stablecoin
While the overall crypto market has been shaky, Nigerian traders have been rushing into a few lesser-known coins that are performing well. STBL, HEMI, and XPL were the talk of the town this past week, showing impressive price gains even as bigger coins struggled.
- STBL is getting strong buying activity, with market indicators suggesting lots of demand.
- HEMI shot up by more than 100% in just a week, but some indicators show the rise may not have enough strong financial backing to last.
- XPL, the token of the Plasma chain, had an eye-catching jump in trading volume — reportedly up by 300,000%. This surge, along with being listed on major exchanges, pushed its price up by more than 50%. However, experts warn that such huge spikes often don’t last long, and the price could drop quickly if traders lose interest.
This sudden love for altcoins shows two things: Nigerians are quick to spot new opportunities, even risky ones, and at the same time it highlights how unpredictable and unstable these smaller coins can be.
3. Regulatory & Legal Signals: Shaping the Framework
Rules and regulations are quietly shaping the background of Nigeria’s crypto scene. Recently, the Securities and Exchange Commission (SEC) of Nigeria made it clear that crypto assets will now be treated like securities under the ISA 2025 law.
This means crypto companies — called Virtual Asset Service Providers (VASPs), must register, get proper licenses, and follow rules about keeping customers’ money safe and reporting their activities.
One key update is that Nigeria is now looking into taxing crypto trades as a way to generate more income for the government. Since so much money is moving through digital assets, adding a tax on these trades could bring in much-needed revenue. This is one of the latest Crypto news in Nigeria this week.
On the legal side, big players like Binance remain under scrutiny. The company has faced years of accusations from Nigerian authorities, including past tax evasion claims.
How the government handles such cases could influence whether international crypto exchanges feel comfortable operating in Nigeria, and it may also affect how local crypto businesses grow.
Read More Here:
- 2025 Crypto Tax in Nigeria: All You Need to Know
Global Crypto News: What’s Going On Around the World?
The crypto world outside Nigeria had a pretty active week — with big moves in prices, new tech ideas, and laws talking about how to control things better. Here are three main stories:
1. Markets Shook, But Then Some Recovery
Earlier this month, crypto investors around the world had a rough time. The value of cryptocurrencies dropped sharply, with about 160 billion dollars being wiped out from the overall market. This happened for a few reasons. The United States dollar became stronger, which usually puts pressure on Bitcoin and other coins.
On top of that, there is still a lot of uncertainty about how governments want to regulate digital assets, and many traders who borrowed money to place big bets were forced to sell when prices moved against them. That triggered even more selling.
Even with this chaos, the market showed some signs of recovery. Bitcoin, which is the largest cryptocurrency, climbed back above 114,000 dollars, while Ethereum also rose to around 4,200 dollars.
This small bounce brought some hope to traders, but experts warn that the market is still very unpredictable. Prices could keep rising if confidence grows, but another drop is possible if economic conditions or regulations turn negative.
2. Big Players and New Moves in Tech and Business
While prices made headlines, some important business and technology updates also stood out.
Kraken, which is one of the biggest crypto exchanges in the world, is in talks with investors to raise money at a valuation of about 20 billion dollars. If this happens, it will show that major investors still believe strongly in the future of crypto trading platforms.
Tech companies are also looking for ways to connect crypto with everyday payments. Google is working on new tools that use artificial intelligence to handle payments.
This would allow AI to securely send money or make purchases on behalf of a user, using advanced cryptography to protect transactions. It may sound futuristic, but projects like this could change how people interact with money online.
Another development is happening in Asia.
A new stablecoin called AxCNH has been launched in Kazakhstan. It is backed by the Chinese yuan and is meant to make international trade easier. This shows that governments and businesses are experimenting with blockchain money tools to support real-world commerce, not just trading.
3. Laws, Rules and How Governments Are Getting Involved
Around the world, governments are paying closer attention to crypto and trying to shape how it should be used. In countries like the United States and the United Kingdom, regulators are discussing the idea of a “crypto passport.”
This system would allow approved crypto firms to operate more freely across multiple countries without needing to reapply for licenses in every single one. That would save time for businesses and help them expand faster.
Another area getting attention is stablecoins.
These are cryptocurrencies that are tied to traditional currencies like the dollar. Lawmakers want them to be safer by forcing issuers to keep clear records, hold proper reserves, and provide regular audits. These rules are meant to protect people from losing money if a stablecoin suddenly fails.
Finally, regulators are keeping a close eye on big exchanges such as Binance, Coinbase, and others. Governments want to make sure that these platforms are paying taxes, following rules, and protecting users.
The way these regulations are rolled out could decide which companies continue to grow and which ones may struggle to survive.
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🔭 Top 3 Crypto Stories to Watch Next Week
1. SEC’s “No-Action” Letter and What It Means for Innovation
In the United States, the Securities and Exchange Commission (SEC) just gave what is called a “no-action letter” to a crypto startup named DoubleZero. This type of letter basically means that, under certain conditions, the SEC will not punish or sue the company for how it operates.
This is important because the SEC has a history of cracking down hard on crypto projects that they believe are breaking securities laws. By granting this letter, the SEC is showing a softer side and a willingness to work with, rather than against, crypto innovators.
For the industry, this could open the door for more startups to approach the SEC with their projects, hoping for similar treatment. If more companies get no-action letters, it could encourage fresh ideas, safer products, and stronger growth in the crypto world.
On the other hand, some critics argue that one letter does not mean the SEC is changing completely, so the industry will be watching closely to see if this is a one-time exception or the start of a new trend.
2. Watch for U.S. Political Jitters and Crypto Market Impact
Another big thing to watch next week is the political drama happening in the United States. Lawmakers are struggling to agree on a new budget, and if they fail, the government could face a shutdown.
A shutdown means many government offices close, workers are not paid on time, and economic uncertainty rises. Even if a shutdown does not happen, the constant back-and-forth and fighting in Washington can make investors nervous.
Crypto markets, like traditional financial markets, are very sensitive to uncertainty. Bitcoin, Ethereum, and other major coins often react when investors start to worry about the economy.
If lawmakers cannot agree quickly, we might see crypto prices swing up and down more sharply than usual. Some traders might treat crypto like a safe haven, buying in as protection, while others might sell off in fear of losing money.
That is why the outcome of the political talks in the U.S. could play a big role in how crypto performs in the coming week.
3. Advances in Cross-Border Crypto Rules: U.S.–UK Passporting Talk
The third story to watch is about regulation across borders. Officials in the United States and the United Kingdom are talking about introducing something called “crypto passporting.”
This system would allow a crypto company approved in one country to operate more freely in the other, without going through all the paperwork and licensing again. It is like getting a travel visa that works for both places, but in this case, it is for crypto businesses.
This idea could make life easier for exchanges, wallet providers, and other crypto services that want to expand internationally. It could also give users in both countries access to more platforms and services more quickly.
The push for passporting shows that governments are starting to realize that crypto is global and cannot be fully managed with separate national rules.
If the talks move forward, it might set an example for other regions, like the European Union or parts of Africa, to consider similar agreements. For now, the industry is watching to see if this idea will become reality or stay just talk.
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What This Means for Nigerians
For Nigerians, these global stories matter more than they may seem. If the SEC in the U.S. becomes friendlier toward crypto startups, it could inspire regulators here to also balance rules with innovation. Political drama in the U.S. might shake crypto prices worldwide, which directly affects Nigerian traders buying and selling Bitcoin and altcoins.
And if the U.S. and U.K. make progress on crypto passporting, it could encourage other regions to work together, possibly making it easier for Nigerians to access global platforms in the future.
In short, while these stories may feel far away, they shape the prices, platforms, and policies that every Nigerian crypto user experiences.
That’s the roundup for the latest crypto News in Nigeria this week. This post will be updated every week to bring you the latest Crypto news in Nigeria. Thanks for reading!
