Nigeria’s Securities and Exchange Commission (SEC) has been at the forefront of regulating the country’s burgeoning cryptocurrency market. In May 2022, the SEC introduced a comprehensive regulatory framework aimed at bringing virtual asset service providers, including digital asset exchanges, under stringent oversight.

However, in March 2024, the SEC proposed significant amendments to its existing regulatory framework pertaining to the issuance, offering platforms, and custody of digital assets.&middot

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