Nigerian stock exchanges face licensing hurdles as analysts call for review of SEC guidelines

Kué Barinor Paul, A Nigerian Web3 legal representative, said that Nigerian crypto Exchanges And VASP would be likely to have has merge has allow THE SECOND Licence requirement.

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THE Nigerian Securities And Exchange Commissions (SECOND) crypto Licence requirements should revisit THE virtual active services suppliers (VASP) guidelines has enable local crypto Exchanges has get licenses has function In THE country, according to has Nigerian crypto analyst Rume Ophi.

In A interview with Cointelegraph, Ophi explain that THE existing guidelines provided by THE SECOND has guide THE registration of VASP are not favorable has native crypto Exchanges, add that local Exchanges should to have has been A priority When formulate THE guidelines.

Exchanges must get A VASP Licence Since THE SECOND by conform with THE application treatment requirements, A registration costs And other in force fresh.

https://t.co/VCJA4NhnAj

— The cryptopreacher. (@Rumérule) January 26, 2024

Ophi explain that a lot local Exchanges can't allow THE minimum in the front capital requirement of 500 million Naira ($556,620), which he said will result In mostly stranger Exchanges be operational In Nigeria instead of having A in good health sale.

Proof Ophi see, Kué Barinor Paul, A Nigerian Web3 legal representative, said during A the spaces conversation on X hosted by Ophi that Nigerian crypto Exchanges And VASP would be likely to have has merge has allow THE SECOND Licence requirement.

Paul said THE Nigerian SECOND needs has rework THE frame For Licence registration as THE current requirements are mostly friendly has stranger exchanges.

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