Nigeria wants to tax crypto. Traders say it could slow business.

Peer-to-peer (P2P) cryptocurrency traders and over-the-counter (OTC) dealers say Nigeria’s new virtual asset tax framework—which mandates a 1.5% stamp duty charge on digital assets—risks raising trading costs and potentially driving activity away from regulated exchanges and into less visible channels.

Joshua Adedeji, a Nigerian OTC bulk trader who said he processes about $500,000…