Review N500m-N1b Capital Requirement For VASPs – Reps Tell SEC
House of Representatives has urged the Securities and Exchange Commission, SEC to review the ₦500 million to ₦1 billion capital requirement imposed on Virtual Assets Service Providers, VASPs describing it as excessive and restrictive to innovation. The House Ad-Hoc Committee on the Economic, Regulatory, and Security Implications of Cryptocurrency Adoption and Point-of-Sale (POS) Operations said the current threshold could discourage legitimate investors and exclude young entrepreneurs from participating in the […]
