The Investments and Securities Act, 2025 (ISA 2025), which repeals the Investments and Securities Act, 2007, marks a significant milestone in the evolution of financial regulation in Nigeria. The ISA 2025 introduces a suite of reforms intended to, inter alia, keep pace with innovation in the Nigeria capital markets. One of the noteworthy changes under the ISA 2025 is the codification of the Securities and Exchange Commission’s (SEC) regulatory authority over digital and virtual assets.
In this edition of our newsletter, we explore the implications of the ISA 2025 on digital and virtual assets and examine how the ISA 2025 impacts the existing regulatory framework applicable to digital and virtual assets.
Lastly, we compare the approach taken by the legislative draftsmen in relation to the regulation of digital and virtual assets vis-a-vis the approach taken in the United Kingdom and United States of America. By contrasting these frameworks, we aim to contextualise the ISA 2025’s reforms within the global regulatory landscape for virtual and digital assets.
