PANews reported on June 21 that the Nigerian Securities and Exchange Commission (SEC) today released new regulations and compliance plans for digital assets. The SEC revised the "Digital Asset Issuance, Platform, Trading and Custody Rules" to enhance regulation of the digital asset market and make it more comprehensive and responsive to market complexity. As part of this regulatory reform, the SEC launched the "Accelerated Regulatory Incubation Program" (ARIP) to provide virtual asset service providers (VASPs) with a path to comply with new regulatory requirements. VASPs must complete the ARIP application process through the SEC electronic portal within 30 days of the notification. The SEC warned that VASPs that fail to complete the application on time will face enforcement action.