SEC Proposes N2bn Capital Requirement for Crypto Exchanges

• • 1 min read
SEC Proposes N2bn Capital Requirement for Crypto Exchanges

LAGOS — The Securities and Exchange Commission has proposed rules for digital asset businesses that would require crypto exchanges and custodians to hold at least N2 billion in capital and pay a N30 million registration fee. Other platforms would need N500 million and virtual asset service providers N200 million. Companies would have to be incorporated in Nigeria and have a chief executive resident in the country.

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