• About Us
  • Careers
  • Contact
No Result
View All Result
Wednesday, July 16, 2025
DeFi Planet
  • News
    • People
    • Business
    • Crime
    • Regulation
    • Crypto
    • CBDC
  • Markets
    • Bitcoin
    • Ethereum
    • Stablecoins
    • Altcoins
    • Crypto ETFs
    • Memecoins
  • Policy
  • Articles
    • Press Releases
    • Opinion
    • Explainers
    • Guest Post
    • Sponsored
  • Directory
    • Companies
    • People
    • Products
    • Wallets
  • Multimedia
    • Videos
    • Podcasts
  • Learn
    • DeFi Basics
    • Tutorials
    • Reviews
    • Blockchain Fundamentals
  • Research
    • Case Studies
  • Explore
    • DeFi
    • Crypto Gaming
    • NFT
    • DAO
    • Metaverses
    • Glossary
  • Jobs
  • Markets Pro
    • DeFi Planet Pro
    • Spend Crypto
    • Swap Crypto
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer
  • News
    • People
    • Business
    • Crime
    • Regulation
    • Crypto
    • CBDC
  • Markets
    • Bitcoin
    • Ethereum
    • Stablecoins
    • Altcoins
    • Crypto ETFs
    • Memecoins
  • Policy
  • Articles
    • Press Releases
    • Opinion
    • Explainers
    • Guest Post
    • Sponsored
  • Directory
    • Companies
    • People
    • Products
    • Wallets
  • Multimedia
    • Videos
    • Podcasts
  • Learn
    • DeFi Basics
    • Tutorials
    • Reviews
    • Blockchain Fundamentals
  • Research
    • Case Studies
  • Explore
    • DeFi
    • Crypto Gaming
    • NFT
    • DAO
    • Metaverses
    • Glossary
  • Jobs
  • Markets Pro
    • DeFi Planet Pro
    • Spend Crypto
    • Swap Crypto
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer
No Result
View All Result
DeFi Planet
No Result
View All Result
Home News

Nigeria’s SEC Grants Preliminary Approvals to Seven Crypto Service Operators

30 August 2024
in News, Regulation
Reading Time: 3 mins read
106 4
Nigeria SEC Grants Preliminary Approvals to Seven Crypto Service Operators

Source: Mariblock

Nigeria’s Securities and Exchange Commission (SEC) has officially granted operational approvals to several crypto-focused service operators.

In a statement published on Thursday, August 29, the securities regulator announced that it has issued “Approvals-in-Principle” to seven firms: Busha Digital Limited, Quidax Technologies Limited, Trovotech Ltd, Wrapped CBDC Ltd, HousingExhange.NG Ltd, Dream City Capital, and Blockvault Custodian Ltd.

According to the regulator, these approvals are preliminary steps toward complete registration, designed to ensure adequate protection and transparency for each product or service offered.

The approved entities include two Digital Asset Exchanges, four Digital Asset Offering Platforms, and one Digital Asset Custodian. The SEC noted that these companies will operate under the Accelerated Regulatory Incubation Program (ARIP), launched in July 2024, to integrate crypto exchanges that started operations before the SEC’s May 2022 rules for virtual asset service providers. The regulator emphasized that only these approved digital exchanges and platforms are legally authorized to conduct crypto trading in Nigeria.

Busha’s CEO, Michael Adeyeri, expressed enthusiasm about the development, highlighting the importance of safe and regulated local platforms for Nigerian crypto enthusiasts. He noted in a post on X that this was a;

“crucial step toward sanitizing the space for the benefit of the economy and aligning with global standards.”

Notably, this development represents a formal acceptance of cryptocurrencies within Nigeria’s financial landscape and paves  the way for regulated crypto activities. It comes just one week after the regulator announced its intention to issue its first set of crypto licenses.

It also follows Finance Minister Wale Edun’s recent call to address cryptocurrency regulation complexities. At the inauguration of the new governing board of the SEC in July 2024, Edun stressed the need for strong oversight in the rapidly evolving crypto sector to ensure market integrity, cautioning against potential misuse of minimal registration requirements.

 

If you want to read more news articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, Instagram, and CoinMarketCap Community.

“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”

Don't miss out!

Subscribe To Our Newsletter

Receive top education news, lesson ideas, teaching tips and more!
Invalid email address
Give it a try. You can unsubscribe at any time.
Thanks for subscribing!
Tags: BushaCryptoNigeriaSEC
Share64Tweet40Share11
Jewel Buddy

Jewel Buddy

Buddy Jewel is a finance writer specializing in cryptocurrency news. With a keen eye on the latest developments in the digital asset space, I provides insightful and timely updates on the ever-evolving world of crypto.

Related Posts

source: cryptorank.io
Blockchain

Arcadia Finance Suffers $2.5 Million Exploit on Base Blockchain, Stolen Funds Converted to WETH

15 July 2025
source:  pymnts.com
News

Atlas Launches Stablecoin Banking Accounts Amid Explosive On-Chain Payment Growth

15 July 2025
source:  news.bit2me.com
Crypto

Berachain Proposes Native Yield for BERA in Major Shift Toward Base Token Utility

15 July 2025
source: crypto-economy.com
Business

Bit Digital to Raise $67.3M in Direct Offering to Expand Ethereum Holdings

15 July 2025

Featured Posts

What is a Crypto Order Book and How Does it Work?

What is a Crypto Order Book and How Does it Work?

byOlayinka Sodiq
14 July 2025
0

Elon Musk's xAI Colossus: What It Is and Why It’s a Big Deal?

Elon Musk’s xAI Colossus: What It Is and Why It’s a Big Deal?

byOlayinka Sodiqand1 others
12 July 2025
0

Is AI the Future of Crypto Trading or a Threat to Market Stability?

Is AI the Future of Crypto Trading or a Threat to Market Stability?

byOlajumoke Oyaleke
7 July 2025
0

What Are DeFi Options Vaults, and How Do They Work?

What Are DeFi Options Vaults, and How Do They Work?

byOlajumoke Oyaleke
26 June 2025
0

source: investorplace.com

How to Find the Newest Cryptocurrencies Before They’re Listed

byOlayinka Sodiq
30 December 2024
0

Read More

Chain of Thoughts

The Game-changing Triumvirate: Blockchain, Data Science, and Artificial Intelligence

The Game-changing Triumvirate: Blockchain, Data Science, and Artificial Intelligence

byOlu Omoyele
30 June 2025
0

...

Are Stablecoins Bank Deposits?

Are Stablecoins Bank Deposits?

byOlu Omoyele
31 May 2025
0

...

DAOs and the Coordination of Human Endeavour

DAOs and The Coordination of Human Endeavour

byOlu Omoyele
27 April 2025
0

...

Should DeFi Be Regulated?

Should DeFi Be Regulated?

byOlu Omoyele
27 March 2025
0

...

Markets Update

The Role of Real-World Assets (RWAs) in the Next DeFi Boom

11 hours ago

Stablecoins in 2025: Still Depegging or Finally Stable?

15 hours ago

Your Weekend Crypto Roundup | July 2025 (Week 2)

5 days ago

The Battle for Web3 Infrastructure: Which Platforms are Dominating in Decentralized Storage, Compute, and Identity?

1 week ago

Is Ethereum Losing the Yield Battle?

1 week ago

Dubai Greenlights Region’s First Tokenized Money Market Fund, Pioneering Real-World Asset Digitization

1 week ago
Read More

Events

Rare Evo 2025
Rare Evo 2025
6 Aug 25
Las Vegas
CBDC Conference
CBDC Conference
9 Sep 25
Nassau

Spotlight

All about Ethereum
All about Algorand
All about Bitcoin
All about Gora

Press Releases

MultiBank Group Announces 7 Million $MBG Tokens Sold Out in Under One Hour During Initial Pre-Sale

bychainwire
15 July 2025
0

Allnodes Among First to Launch Bare Metal Servers powered by AMD Threadripper 9000 Series

bychainwire
15 July 2025
0

$TAC Token Debuts in TVL as TAC Mainnet Goes Live with Leading DeFi Protocols

bychainwire
15 July 2025
0

HeraldEX Defines the Future with Its One-Stop Crypto Platform for Businesses

bychainwire
14 July 2025
0

BSGM Engages CXG to Acquire FINRA/SEC-Registered Broker-Dealer to Expand Publicly Traded RWA Tokenization Operations

bychainwire
14 July 2025
0

Read More

ADVERTISING

ABOUT

TEAM

CAREERS

CONTACT

TERMS & CONDITIONS

PRIVACY POLICY

© Copyright 2025 DeFi Planet

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Please enter and activate your license key for Cryptocurrency Widgets PRO plugin for unrestricted and full access of all premium features.

Add New Playlist

No Result
View All Result
  • News
    • People
    • Business
    • Crime
    • Regulation
    • Crypto
    • CBDC
  • Markets
    • Bitcoin
    • Ethereum
    • Stablecoins
    • Altcoins
    • Crypto ETFs
    • Memecoins
  • Policy
  • Articles
    • Press Releases
    • Opinion
    • Explainers
    • Guest Post
    • Sponsored
  • Directory
    • Companies
    • People
    • Products
    • Wallets
  • Multimedia
    • Videos
    • Podcasts
  • Learn
    • DeFi Basics
    • Tutorials
    • Reviews
    • Blockchain Fundamentals
  • Research
    • Case Studies
  • Explore
    • DeFi
    • Crypto Gaming
    • NFT
    • DAO
    • Metaverses
    • Glossary
  • Jobs
  • Markets Pro
    • DeFi Planet Pro
    • Spend Crypto
    • Swap Crypto
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer

© Copyright 2024 DeFi Planet   |   Terms & Conditions   |   Privacy Policy

-
00:00
00:00

Queue

Update Required Flash plugin
-
00:00
00:00