I had to update the Bitcoin legal map this week.
On 17 July, Nigeria's president signed an executive order putting the central bank in charge of crypto, the same central bank that ordered every bank in the country to close crypto accounts in 2021.
So Nigeria's entry is rewritten. Here's what actually changed.
The Presidential Executive Order on Virtual Assets Coordination, 2026 took effect immediately. It creates a Virtual Asset Council: the CBN chairs, the Revenue Service and SEC are vice-chairs, and the Financial Intelligence Unit and the National Security Adviser sit at the table.
Three things worth knowing:
— No new regulator. Every agency keeps its full statutory mandate. This is a coordination layer, not a power grab.
— The jurisdiction split is finally written down. Activities like securities register with the SEC. Payment, settlement and custody of non-security assets register with the CBN.
— 30 days to deliver a Harmonised Implementation Framework, with a CBN sandbox, an NRS tax policy and a national White Paper queued behind it.
The map tracks 140+ jurisdictions on six questions each: is Bitcoin legal, can you self-custody, how is it taxed, what is it legally classified as, where is the politics going, and can the state take it from you.
Which country do you think is most misunderstood on the map? 👇
On 17 July, Nigeria's president signed an executive order putting the central bank in charge of crypto, the same central bank that ordered every bank in the country to close crypto accounts in 2021.
So Nigeria's entry is rewritten. Here's what actually changed.
The Presidential Executive Order on Virtual Assets Coordination, 2026 took effect immediately. It creates a Virtual Asset Council: the CBN chairs, the Revenue Service and SEC are vice-chairs, and the Financial Intelligence Unit and the National Security Adviser sit at the table.
Three things worth knowing:
— No new regulator. Every agency keeps its full statutory mandate. This is a coordination layer, not a power grab.
— The jurisdiction split is finally written down. Activities like securities register with the SEC. Payment, settlement and custody of non-security assets register with the CBN.
— 30 days to deliver a Harmonised Implementation Framework, with a CBN sandbox, an NRS tax policy and a national White Paper queued behind it.
The map tracks 140+ jurisdictions on six questions each: is Bitcoin legal, can you self-custody, how is it taxed, what is it legally classified as, where is the politics going, and can the state take it from you.
Which country do you think is most misunderstood on the map? 👇
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