[Nigeria Issues Virtual Asset Taxation Guidelines, Mining, Staking, and Airdrop Income Must Also Be Declared] According to The Nation Online, the Nigerian tax authority has issued the 'Virtual Asset Taxation Guidelines,' officially incorporating cryptocurrencies, stablecoins, NFTs, and other blockchain digital assets into the country's tax system. Released on July 31, the guidelines provide the first detailed framework for taxing income derived from cryptocurrencies, stablecoins, governance tokens, NFTs, and similar assets. The guidelines stipulate that income generated from the disposal, exchange, or transfer of virtual assets must be taxed in accordance with Nigerian tax laws. Income from blockchain activities such as mining, staking, validation, airdrops, and token rewards is also subject to taxation. Virtual assets must be valued based on market prices from exchange platforms recognized by the tax authority. Individuals and businesses are required to maintain complete transaction records, while virtual asset service providers must register for tax purposes and report large or suspicious transactions. The SEC will continue to regulate securities-related virtual assets, while the tax authority will oversee tax administration.