Nigerian crypto licensing bill passes second Senate reading

The Nigerian Senate has passed a cryptocurrency regulation bill in its second reading, BlockBeats reported, citing Premium Times. The proposed legislation aims to create a comprehensive regulatory framework for virtual assets, digital assets, and Virtual Asset Service Providers (VASPs). If enacted, the bill would require cryptocurrency exchanges to obtain a license and adhere to transparency and compliance standards. The bill has now been referred to the Capital Markets Committee for further review, which is expected to submit its report within four weeks.