Nigerian SEC Introduces New Program For VASP Registration
Summary
Nigerian SEC has launched a program to expedite the registration of virtual asset service providers (VASPs) within 30 days. The program, called Accelerated Regulatory Incubation Program (ARIP), aims to ensure compliance and avoid prosecution. This initiative follows the appointment of a new director-general with a crypto-friendly reputation. Nigeria is implementing stringent regulations for the crypto space, including increased registration fees and restrictions on microfinance banks, despite being one of the fastest-growing crypto-hubs globally.
