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)