As the regulatory environment continues to evolve, other local exchanges will likely follow Quidax’s lead and seek to meet the SEC’s requirements.
In a landmark move for Nigeria’s burgeoning cryptocurrency sector, the Securities and Exchange Commission (SEC) has issued the first provisional operating license to Quidax, an African-founded crypto exchange.
This pivotal development signals the beginning of formal recognition and much-needed regulatory oversight for the country’s digital asset industry.
According to a release shared with Cointelegraph, the SEC’s license permits Quidax to operate as a registered crypto exchange in Nigeria, a significant step toward legitimizing the crypto market.
