CBN fixes N10bn capital for naira stablecoin issuers, N15bn for dollar-backed operators

…Bans unapproved tokens, tightens crypto oversight
 
To strengthen oversight of digital assets, the Central Bank of Nigeria (CBN) has introduced stricter regulatory requirements for the operation of non-security virtual assets in the country.
Under the new rules, naira-backed stablecoin issuers must maintain a minimum capital of N10 billion, while operators issuing foreign currency-backed stablecoins are required to have N15 billion.
Other virtual asset service providers (VASPs), including businesses offering payment, transfer, custody, wallet and related services, must maintain a minimum capital of N1 billion. Their operations will also be subject to licensing, supervision and re...