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Nigeria Updates Guidelines for Crypto Service Providers to Block Criminals

Nigeria Updates Guidelines for Crypto Service Providers to Block Criminals

Cointime2024/03/07 12:33
By: Cointime

Nigeria's Securities and Exchange Commission (SEC) has updated its guidelines for crypto service providers to prevent criminals from accessing the capital market. This move follows the Nigerian government's decision to block local access to several crypto platforms, including Binance, Kraken, and Coinbase. The updated SEC guidance includes a manual on anti-money laundering measures and rules on combating the financing of terrorism. Despite recent crackdowns on the crypto space, the Central Bank of Nigeria has reversed a measure that previously blocked local banks from providing services and accounts to crypto firms.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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