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Nigeria's Government Takes New Steps in Crypto Regulation
Nigeria has taken a pivotal step in reshaping its approach to cryptocurrency by granting its first-ever licenses to local crypto exchanges.
This marks a notable development in the country’s evolving regulatory framework for digital assets.
Busha Digital Limited and Quidax Technologies Limited are the inaugural recipients of licenses under Nigeria’s Accelerated Regulatory Incubation Program (ARIP).
This move, despite previous frictions between the government and the crypto community, signals Nigeria’s recognition of the growing importance of digital currencies.
Notably, Nigeria ranks second globally in terms of crypto adoption per population, underscoring the country’s expanding embrace of the crypto space.