PANews reported on June 27 that according to Decrypt, the Nigerian Securities and Exchange Commission (SEC) has given cryptocurrency exchanges and digital asset traders 30 days to re-register their businesses, otherwise they will face the risk of enforcement action. The SEC said that the new registration is intended to amend its rules on digital asset issuance platforms, exchanges and virtual asset service providers (VASP) custody. In a statement on its website, it said: "All operating and potential VASPs must visit the SEC electronic portal within 30 days from the date of this circular to complete the application process."