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SEC has admitted seven new crypto firms into its ARIP regulatory sandbox with Approval-in-PrincipleThe approval allows the companies to operate under SEC oversight but is not a final operating licenceThe move strengthens Nigeria’s regulation of the digital asset and cryptocurrency industry
Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
The Securities and Exchange Commission (SEC) has approved an additional seven digital asset businesses to join its Accelerated Regulatory Incubation Programme (ARIP), bringing the total number of cryptocurrency firms under its regulatory sandbox as Nigeria ratchets up supervision of the digital asset sector.
Seven cryptocurrency firms have joined Nigeria’s SEC regulatory sandbox Photo: SECSource: Facebook
In a statement on Thursday, July 2, the commission stated that the newly accepted companies have been granted Approval-in-Principle (AIP), which will allow them to operate within the established scope of the programme,
