Nigeria to tighten crypto regulation in wake of Binance disputes
Summary
The Nigerian SEC plans to introduce new regulations for crypto operators, including licensing, registration, and screening guidelines. The regulations aim to prevent malicious actors from registering as operators in the Nigerian market. The SEC is cooperating with the Central Bank of Nigeria to include additional rules. This follows the government's issues with Binance, the largest crypto exchange, accused of exacerbating foreign exchange challenges. Binance discontinued its naira services and promised to cooperate with authorities.
