Nigeria’s Apex Bank Lifts Ban on Crypto, Issues Fresh Guidelines
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- The Central Bank of Nigeria (CBN) released a circular containing guidelines on virtual assets service providers (VASPs).
- The circular signaled a shift from the CBN’s original position, which restricted crypto transactions.
- According to the CBN, Current trends globally have shown that there is a need to regulate VASPs.
On Friday, December 22, the Central Bank of Nigeria (CBN) released a circular containing guidelines on virtual assets service providers (VASPs) to all banks and financial institutions (OFIs) in the country. The circular, signed by the apex bank’s Director of Financial Policy and Regulation Department, Haruna Mustapha, signaled a shift from the CBN’s original position, which restricted crypto transactions.
JUST IN:
— Bitcoin News (@BitcoinNewsCom) December 22, 2023The Central Bank of Nigeria lifts the banking ban on Virtual Asset Service Providers that’s been in place since February 2021.#Bitcoin now has a much clearer path forward in a country of 220 million
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The CBN’s new guidelines allow banks and OFIs to offer services to cryptocurrency users, citing current trends across the globe. A section of the circul…
The post Nigeria’s Apex Bank Lifts Ban on Crypto, Issues Fresh Guidelines appeared first on Coin Edition.
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