Draft Nigeria crypto rules published on 20 August would require an exchange to keep its chief executive in the country, plus US$1.5 million of capital.
Western Africa · Markets
Key Facts
—What happened: Nigeria’s markets regulator proposed rules on 20 August for every firm serving Nigerian crypto users.
—The hard part: An exchange would need its chief executive living in Nigeria, plus US$1.5 million of capital.
—What it costs: Registration alone runs to 30 million naira (US$22,300) for the main licence classes.
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