Summary
SEC is proposing amendments to increase supervision fees for crypto issuers, exchanges, and custody platforms, with application fees potentially increasing from 100,000 naira to 300,000 naira and registration fees from 30 million naira to 150 million naira.
Key Points
1. The proposed amendments to the rules for crypto issuers, exchanges, and custody platforms include significant increases to all supervision fees.
2. The Securities and Exchange Commission (SEC) is now proposing a 300,000 naira application fee and a 150 million naira registration fee for crypto firms.
3. These changes could have a significant financial impact on crypto businesses operating in Nigeria.