‘Anti-innovation’: Experts criticize Nigeria’s ‘disproportionate’ capital requirements for crypto companies

Nigeria's SEC has raised minimum capital requirements for digital asset companies, with platforms now requiring $704,000 and exchanges and custodians $1.4 million. Experts describe the new capital requirements as “anti-innovative” and warn that they could drive talent abroad. It requires a significant hike in capital, the Securities and Exchange Commission of Nigeria (SEC) has revised the minimum […]