The Central Bank of Nigeria (CBN) has now canceled its restrictions on banks and other financial institutions in operating accounts for virtual asset service providers (VASPs). This marks an exciting development as the Apex Bank looks to chart a new course for crypto regulations in a nation that has over 200 million people.
CBN Introduces New Guidelines On VASPs Banking Operations
In a circular released on December 22, the CBN explained that its initial ban on banking operations by VASPs in February 2021 was based on the risks of money laundering and terrorism financing (ML/TF) as well as the apparent lack of regulations and investor protection measures in Nigeria’s crypto industry.
CBN Circular on lifting the banking ban on VASPs (crypto companies). pic.twitter.com/tkkiQzEZkw
— Uyoyo (@Uyoyo_O) December 22, 2023
However, the Apex Bank now acknowledges that in line with global trends, the supervision of the activities of VASPs represents a better method of approach than an outri
We współpracy z: https://bitcoinist.com/nigerias-apex-bank-sets-course-lifts-ban-on-vasps/
