CBN Sets ₦15 Billion Capital Requirement for Foreign Stablecoin Issuers
Photo: DeFi Planet
The Central Bank of Nigeria (CBN) has introduced a new regulatory framework for non-security virtual assets, setting strict financial and operational requirements for digital asset providers operating in the country. According to an official circular issued by Musa Jimoh, issuers of foreign currency-backed stablecoins, including USDT and USDC, must maintain a minimum paid-up capital of ₦15 billion. They must also register a local company and establish a physical office with staff in Nigeria. The CBN just set the rules for stablecoins in Nigeria.
Also reported by Live Bitcoin News.
Source: DeFi Planet
