The regulations “could act as the precursor for a surprise move from the central bank to reverse its approach, providing critical foundations for mass crypto adoption across the country,” Owen Odia, country manager for Nigeria at cryptocurrency exchange Luno, said by email.
The new rules cover the issuance of digital assets as securities, the registration of platforms and digital asset custodians, exchanges and virtual assets service providers.
Nigeria’s young, tech-savvy population has eagerly adopted cryptocurrencies, often using peer-to-peer trading offered by crypto exchanges to avoid the ban.
The link for this post is for an archive of the article from Bloomberg. The archive can be easier to read. The source article on Bloomberg is:
Nigeria Issues Crypto Asset Rules in Move Seen Boosting Trade
https://www.bloomberg.com/news/articles/2022-05-14/nigeria-issues-crypto-asset-rules-in-move-seen-boosting-trade
Here's another article on this:
SEC issues regulations governing transactions in cryptocurrency, NFT, other digital assets
https://nairametrics.com/2022/05/13/nigerias-sec-issues-rules-to-govern-transactions-in-cryptocurrency-nft-other-digital-assets/
And, an article on The Block:
Nigeria’s markets regulator publishes set of rules for digital assets
https://www.theblockcrypto.com/linked/146962/nigerias-markets-regulator-publishes-set-of-rules-for-digital-assets
Here's another article on this:
SEC issues regulations governing transactions in cryptocurrency, NFT, other digital assets
https://nairametrics.com/2022/05/13/nigerias-sec-issues-rules-to-govern-transactions-in-cryptocurrency-nft-other-digital-assets/