Nigeria's SEC Updates Guidelines for Crypto Firms in Bid to Stop Criminal Activity: Report
Summary
Nigeria's Securities and Exchange Commission (SEC) is updating guidelines for crypto service providers to prevent criminals from accessing the capital markets. The SEC aims to ensure that criminals are not registered as operators in the market by implementing new anti-money laundering (AML) and combating the financing of terrorism (CFT) measures. The SEC will consult on the proposed measures before final approvals. Despite the crackdown on the crypto space, the Central Bank of Nigeria has reversed a measure that blocked local banks from providing services to crypto firms.
