The Federal Government, through the Securities and Exchange Commission (SEC), has officially granted operational approvals to several crypto operators, showing an acceptance of the digital currency.
SEC’s approvals come after a series of crackdowns on the crypto industry in 2024, following the lifting of a ban on official crypto transactions in December 2023. The government had targeted crypto operators, blaming them for the naira’s volatility, tax evasion, and terrorism financing
On Thursday, August 29, the SEC announced that it had granted approval in principle to two Digital Asset Exchanges to begin operations under its Accelerated Regulatory Incubation Program (ARIP).
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