KuCoin Selected as Sole Global Exchange in Nigeria CBN Crypto Pilot
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KuCoin selected as the sole global exchange in the Central Bank of Nigeria (CBN) virtual-asset supervisory pilot, a notable compliance milestone for the CEX and for KuCoin’s global strategy. The pilot targets VASPs with stronger AML/CFT rules and oversight, increasing security and regulatory compliance requirements that may raise operational costs but aim to reduce financial-crime risk. Likely to boost KuCoin’s regulatory credibility and crypto adoption in Nigeria/Africa, supporting CEX institutionalization and pressuring DeFi/DEX players to enhance compliance.
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- KuCoin joins Nigeria’s CBN pilot as the only global crypto exchange selected.
- The initiative targets AML, CFT, and stronger oversight of digital asset firms.
- Nigeria deepens crypto regulation while balancing innovation and compliance.
KuCoin has been selected as the only global crypto exchange to participate in a new supervisory pilot program launched by the Central Bank of Nigeria (CBN). The initiative targets Virtual Asset Service Providers (VASPs) and aims to strengthen oversight of Nigeria’s digital asset sector.
The pilot cohort includes a mix of regional fintech and digital asset firms. Meanwhile, KuCoin stands out as the sole international exchange involved at this stage.
Strengthening AML and Compliance Oversight
The program addresses financial crime risks by enhancing compliance frameworks across the industry. Key focus areas include Anti-Money L…
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