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Crypto
Nigeria issues digital asset tax guidelines, some taxes to be paid in tokens
Nigeria has issued new guidelines requiring cryptocurrency exchanges and peer-to-peer platforms to collect, report and pay taxes on digital asset transactions. The rules require platforms to withhold 1 percent of proceeds from disposals of taxable crypto assets, security tokens and applicable NFTs. A 10 percent withholding tax applies to staking, mining, airdrops and DeFi income. Some withheld taxes must be paid in the token used in the transaction.
Crypto
Nigeria pushes to unify crypto regulation, revise tax guidelines
Nigeria is moving to overhaul cryptocurrency regulation and taxation. President Bola Tinubu signed an executive order aimed at reducing fragmented oversight of digital assets and strengthening cooperation among financial, revenue and capital market authorities. The order includes creating a virtual assets committee to coordinate policy among major regulators. Authorities said it does not create a new regulator or shift powers between agencies. Nigeria also plans to update digital asset tax policy and provide further details on taxpayer impacts.
AI & Enterprise
Lovable vibe-coding platform faces security flaw row over free account access to other users\' data
A researcher has raised allegations that Lovable, a vibe-coding platform valued at $6.6 billion, had a security flaw allowing a free account to access other users’ source code, database credentials and AI chat histories, The Register reported. The researcher described an object-level authorisation bug that exposed data without ownership checks and said a report was mishandled. The Register said Lovable’s explanations shifted before it said a backend change re-enabled access.
