Legal and Tax Implications of Cryptocurrency Adoption and Financial Inclusion in Yenagoa, Bayelsa State

The study investigates the relationship between legal and tax implications of cryptocurrency adoption and financial inclusion in Yenagoa, Bayelsa State, Nigeria. Using a cross-sectional survey research design with primary data collected via structured questionnaires in Yenagoa, Bayelsa State, Nigeria after face and content validity. Cronbach was employed to test the reliability of the instrument, and quantitative analysis employed univariate and bivariate analysis to estimate the association between cryptocurrency adoption and financial inclusion outcomes. Findings indicate a significantly positive association between perceived legal risk (PLR) of cryptocurrency adoption and financial inclusion, a significantly positive association between volatility perception index (VPI) of cryptocurrency adoption and financial inclusion, a significantly positive association between transaction time satisfaction (TTS) of cryptocurrency adoption and financial inclusion and a significantly positive association between peer adoption index (PAI) of cryptocurrency adoption and financial inclusion. Hence, the study concluded that cryptocurrency adoption influences the access and usage of financial services for financial inclusion. The study underscores the need for proportionate regulation (risk-based know your customers, licensing of VASPs, disclosure and custody rules, targeted digital literacy programs and infrastructure investments to translate crypto’s technical potential into inclusive, safe financial participation.