Nigeria's Securities and Exchange Commission (SEC) is updating its rules on Digital Asset Issuance, Offering Platforms, Exchange, and Custody. The changes aim to improve the regulatory environment for digital assets. The SEC has introduced the Accelerated Regulatory Incubation Programme (ARIP), a special compliance program for Virtual Assets Service Providers (VASPs). The SEC has also warned of enforcement actions against non-compliant VASPs. This follows the appointment of a new Director-General and a proposed hike in the registration fee for crypto exchanges. Nigeria is one of the fastest-growing crypto economies, with high levels of crypto adoption.