News with the tag "Nigeria SEC"

Binance has made the release of Tigran Gambaryan a condition for seeking registration in Nigeria. The exchange is reluctant to register due to outstanding issues with the government. It reportedly believes the SEC’s hastily formulated framework is not supported by law. Despite this, Binance reported...

The Nigerian financial authorities recently announced their plan to overhaul the tax system to add crypto assets. The upcoming proposal, which aims to modernize the current policies and adapt to the evolving financial landscape, was praised by a Nigerian organization that called the efforts a “game-...

The Nigeria crypto market has been one of the fastest-growing crypto regions in recent years; however, despite this growth, there appears to be no regulation. The latest report from Bloomberg has signaled a shift may finally be on the horizon. According to the report, Nigeria’s Securities and Exchan...

Despite government crackdowns, Nigerian crypto transactions remain robust, with the SEC aiming to formalize the market and ensure transparency.

As the regulatory environment continues to evolve, other local exchanges will likely follow Quidax’s lead and seek to meet the SEC’s requirements.

As investigations proceed, the outcome of this case could set significant precedents for how cryptocurrency-related crimes are handled in Nigeria.

BICCoN believes that a balanced approach can help resolve the current challenges, and empower Nigeria to create a supportive environment for the blockchain industry to thrive.

The Nigerian Securities and Exchange Commission (SEC) has set a 30-day deadline for Virtual Asset Service Providers (VASPs) to update their applications in accordance with newly amended rules regarding Digital Asset Issuance, Offering Platforms, Exchange, and Custody. This update, conveyed through a...

In May 2022, Nigeria’s Securities and Exchange Commission introduced a robust regulatory framework for virtual asset service providers, including digital asset exchanges. The framework required compliance with various laws and regulations to foster market integrity, safeguard investors, and deter fi...

The trial concerning alleged money laundering activities involving cryptocurrency exchange Binance and two of its executives has been adjourned by a Nigerian court until May 17. The decision to postpone the trial stems from concerns raised by Binance’s legal representative regarding missing document...