Summary:
- Quidax, an African crypto exchange, receives the first provisional operating license from the Nigerian SEC.
- This development represents a critical step towards regulatory oversight of the digital asset industry in Nigeria.
- The SECโs approval allows Quidax to operate as a registered crypto exchange within the country.
- Quidax believes this approval will invigorate the Nigerian crypto community, driving further innovation.
In a landmark move for Nigeriaโs digital asset industry, the Nigerian Securities and Exchange Commission (SEC) has issued its first provisional operating license to Quidax, an Africa-based cryptocurrency exchange.
This development signifies the beginning of formal recognition and regulatory oversight for the rapidly growing crypto sector in Nigeria. According to a press release shared with Cointelegraph, the SECโs license allows Quidax to operate as a registered crypto exchange in the country.
Quidax has welcomed the SECโs approval, describing it as a โshot of adrenalineโ for the Nigerian crypto community. The company believes this endorsement will encourage further innovation and expansion within the sector, solidifying Nigeriaโs position as a key player in the global digital asset market.
This license represents not only a victory for Quidax but also a crucial milestone for the broader Nigerian crypto community, which has been eagerly anticipating greater regulatory clarity and support.
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