CBN Gives Crypto Operators 180 Days To Get Licensed

The Central Bank of Nigeria (CBN) has given existing virtual asset operators 180  days to apply for a licence, setting out a transition period that requires them to register with the Bank within 30 days and begin regulatory reporting within 60 days.
The deadlines are contained in the Regulations for the Operations of Non-Security Virtual Assets in Nigeria released by the apex bank on Friday.
They cover stablecoins, deposit money tokens and the firms that issue, trade, hold or move them. The 180 days run from the date the CBN specifies as the commencement of the regulations, which the Bank is to announce in the instrument that issues them.
Under the transition rules, an existing oper...