US EditionNigeria: CBN Begins Anti-Money Laundering Oversight On Crypto Firms
The pilot will require monthly compliance reports and detailed reviews as the central bank seeks to tighten anti-money laundering controls and align with global standards.
- The Central Bank of Nigeria launched a pilot supervisory program for Virtual Asset Service Providers on Thursday, selecting Flutterwave, Paystack, and KuCoin for the initial phase to enhance oversight of digital asset activities.
- This regulatory initiative aims to strengthen safeguards against money laundering, terrorism financing, and proliferation risks within Nigeria's digital asset sector. It aligns with Financial Action Task Force recommendations, particularly the Travel Rule for cross-border transactions.
- Participants must submit monthly compliance reports and key performance indicators while undergoing detailed governance and transaction monitoring reviews. The CBN emphasized this is a supervisory engagement to deepen understanding of operational models, not a policy shift.
- KuCoin CEO BC Wong stated the initiative represents an "important step toward enhancing transparency, strengthening risk management, and advancing regulatory clarity." The CBN clarified the pilot "does not alter, replace or supersede the existing regulatory framework."
- Running in phases with subsequent cohorts already scheduled, the program aims to close regulatory gaps and align Nigeria's financial system with international best practices as the central bank intensifies oversight of virtual assets.
12 Articles
12 Articles
KuCoin Named Only Global Exchange to Participate in CBN Virtual Asset Supervisory Pilot, Reinforcing Global Compliance Strategy - BlockTelegraph
PROVIDENCIALES, Turks and Caicos Islands, April 3, 2026 /PRNewswire/ — KuCoin, a leading global crypto platform built on trust, has been invited to participate in a supervisory pilot programme launched by the Central Bank of Nigeria (CBN) targeting Virtual Asset Service Providers (VASPs). KuCoin is the only global exchange included in the initial cohort of invitees, which also features regional financial technology and digital asset firms. The i…
KuCoin Named Only Global Exchange to Participate in CBN Virtual Asset Supervisory Pilot, Reinforcing Global Compliance Strategy - PressReach
PROVIDENCIALES, Turks and Caicos Islands, April 3, 2026 /PRNewswire/ — KuCoin, a leading global crypto platform built on trust, has been invited to participate in a supervisory pilot programme launched by the Central Bank of Nigeria (CBN) targeting Virtual Asset Service Providers (VASPs). KuCoin is the only global exchange included in the initial cohort of invitees, which also features regional financial technology and digital asset firms. The i…
KuCoin Joins CBN Virtual Asset Pilot as Only Global Exchange in Initial Cohort
KuCoin has landed a notable regulatory win in Africa after being invited to join a new supervisory pilot launched by the Central Bank of Nigeria for Virtual Asset Service Providers, or VASPs. The exchange said it is the only global trading platform included in the pilot’s initial cohort, which also features regional fintech and digital asset firms. The programme is part of the Central Bank of Nigeria’s broader push to strengthen oversight of vir…
KuCoin Named Only Global Exchange to Participate in CBN Virtual Asset Supervisory Pilot, Reinforcing Global Compliance Strategy - CryptoCurrencyNews
PROVIDENCIALES, Turks and Caicos Islands, April 3, 2026 /PRNewswire/ — KuCoin, a leading global crypto platform built on trust, has been invited to participate in a supervisory pilot programme launched by the Central Bank of Nigeria (CBN) targeting Virtual Asset Service Providers (VASPs). KuCoin is the only global exchange included in the initial cohort of invitees, which also features regional financial technology and digital asset firms. The i…
The AI Journal
Laotian TimesKuCoin Named Only Global Exchange to Participate in CBN Virtual Asset Supervisory Pilot, Reinforcing Global Compliance Strategy
PROVIDENCIALES, Turks and Caicos Islands, April 2, 2026 /PRNewswire/ — KuCoin, a leading global crypto platform built on trust, has been invited to participate in a supervisory pilot programme launched by the Central Bank of Nigeria (CBN) targeting Virtual Asset Service Providers (VASPs). KuCoin is the only global exchange included in the initial cohort of invitees, which also features regional financial technology and digital asset firms. The …
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