One-on-one with Senator Ihenyen on NRS’ Virtual Assets Tax GuidelinesTechnext: The new NRS framework transitions crypto profits from the previously established flat 10% capital gains tax to a progressive personal income tax, which could scale up to 25%. Ihenyen: VASPs and P2P escrows are now required to deduct a 1% withholding tax at source upon execution of a transaction. TN: Interestingly, the NRS has exempted the sale of stablecoins from this 1% withholding tax. Ihenyen: The exemption of stablecoins from the 1% gross withholding tax is very significant. I would also recommend a 24-month companies’ income tax break and an express declaration that any virtual asset-related tax obligation predating the commencement of the Nigeria Tax Act is unenforceable.