Nigeria's Central Bank Issues Virtual Asset Operations Regulations, Foreign Currency Stablecoin Issuers Required to Maintain Minimum Paid-in Capital of 15 Billion Naira

Odaily: The Central Bank of Nigeria (CBN) has issued the "Regulations for Non-Securities Virtual Asset Operations," stipulating that foreign currency stablecoin issuers must maintain a minimum paid-in capital of 15 billion naira, and P2P transactions must verify BVN. The CBN will regulate non-securities virtual assets and stablecoins used for payments, settlements, and remittances, while securities-type virtual assets will continue to be regulated by the Securities and Exchange Commission (SEC).