Nigeria Grants Licenses to Crypto Platforms, Shifting from Prohibition to Regulation

• SEC approves licenses for Busha Digital and Quidax, marking a regulatory shift
• Nigeria’s crypto market projected to reach $1.65 billion in 2024, second only to the U.S

Abuja, Nigeria – Nigeria’s Securities and Exchange Commission (SEC) has approved licenses for two cryptocurrency trading platforms, Busha Digital Limited and Quidax Technologies Limited, signalling a significant policy shift from outright prohibition to regulatory oversight. Busha Digital is now authorised to trade in virtual assets, while Quidax will list and trade already issued crypto assets using blockchain technology, according to a statement on the SEC’s website.