Nigerian SEC Amends Its Digital Asset Rules
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The Nigerian SEC has amended its rules on digital assets Issuance, Offering Platforms, Exchange, and Custody. The amendment process is designed to enhance the regulatory environment to make it more responsive to the complexities of digital asset markets. The SEC has introduced a special compliance program called the Accelerated Regulatory Incubation Programme (ARIP) specifically designed for virtual assets service providers (VASPs) and offers a path for these entities to align with the new regulatory requirements. The SEC also issued a stern warning that it will crack down on any non-compliant VASPs.
