The Nigerian Securities and Exchange Commission (SEC) has announced new regulations increasing the minimum capital requirements for digital asset exchanges and custodians to 2 billion naira (approximately $1.4 million). This marks a significant rise from the previous requirement of 500 million naira and surpasses a previously considered but withdrawn proposal of 1 billion naira. Under the new rules, digital asset offering platforms (DAOP) and RWA tokenization platforms must maintain a minimum capital of 1 billion naira, while digital asset intermediaries and related service providers are required to hold between 300 million and 500 million naira. Affected entities must comply by June 30, 2027, or risk suspension or revocation of their licenses.
Nigerian SEC Raises Capital Requirements for Digital Asset Firms
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