Nigeria’s Securities and Exchange Commission (SEC) has admitted two more virtual asset service providers (VASPs) into its Accelerated Regulatory Incubation Programme (ARIP), the latest step in its efforts to bring the country’s growing crypto industry under formal regulatory oversight.
The latest entrants, GIGX Technologies and KuCoin Nigeria Limited, will both receive Approval-in-Principle (AIP), allowing them to operate within the SEC’s regulatory framework while working towards full registration. This means they have satisfied the regulator’s initial requirements and can begin operating under the programme’s supervision.
The announcement comes just a day after the SEC admitted seven other companies into the same programme,
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