Nigeria Securities and Exchange Commission Unveils Novel Regulations and Compliance Strategy for Digital Assets

In a formal public notice, the SEC outlined its plans to update these important regulations. The revision process aims to improve the regulatory environment, making it more comprehensive and better equipped to handle the complexity of the digital asset market. As part of this regulatory reform, the SEC has introduced a special compliance program called the “Accelerated Regulatory Incubation Program” (ARIP). The program is specifically designed for Virtual Asset Service Providers (VASPs) and provides these entities with a pathway to compliance with the new regulatory requirements.