The new Nigeria SEC Update that came on 21st June 2024 has launched new crypto regulations, constructing a new framework for digital asset issuance, exchange, custody, and offering platforms.
According to an official statement by the Nigeria Securities And Exchange Commission, this new Nigeria Crypto Policy will not only expand the scope of crypto regulations but also the new Accelerated Regulatory Incubation Program (ARIP) will open new doors for virtual asset service providers (VASPs).
Suggested Read: Binance Secures Full VASP License In Dubai
Glimpses Of ARIP
The ARIP program is specially designed for entrepreneurs, promotors of new business models, and crypto startups that are presently using technology to engage in full or ancillary Capital Market activity without the necessary permission.
All the VASPs interested in applying must do so within 30 days to avoid any enforcement actions by the government.
The SEC’s latest program hopes to “aid the evolution of effective regulation without compromising market integrity” while ensuring investor protection.
Detention Of Tigran Gambaryan
The Binance executive has been detained due to his worsening health conditions. As per the report, the executive collapsed during a court hearing in Abuja and now requires medical attention.
“We found him suffering from the conditions there, as he has malaria and double pneumonia, and he reports that he has lost significant weight. Even worse, he’s being denied access to adequate medical attention.”, Congressman French Hill (R-LA) and Congresswoman Chrissy Houlahan (D-PA) said.
It took the prison authorities around 11 days to complete his brief checkup, compelling the US lawmakers to write to President Joe Biden to demand his release.
“Tigran must be immediately granted a humanitarian release, the remaining charges dropped, and he must return home to America where he belongs,” Hill said.
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