The Central Bank of Nigeria (CBN) has lifted banking restrictions on virtual asset service providers (VASPs) that were imposed in 2021. While banks in Nigeria are still prohibited from holding, trading, or transacting in virtual currencies, they can now facilitate crypto transactions under the new rules. The move provides legal recognition to VASPs under Section 30 of the Money Laundering Act of 2022, aligning with FATF regulations for mitigating money laundering and terrorism financing risks. (Source: Coindesk)
Related
Japan Prepares for Bitcoin ETFs with SBI and Franklin Templeton Partnership
SFC Alerts Public to Unlicensed Virtual Asset Trading Platform CoinUnited.io
Protected: Quantum Crypto Updates 5 | July 2024
Revolut Secures UK Banking License, Poised to Expand Services
Bank of Ghana and Monetary Authority of Singapore Successfully Demonstrate E-Cedi in Cross-Border Transactions