The House of Representatives Ad-Hoc Committee investigating the economic, regulatory, and security implications of cryptocurrency adoption and Point-of-Sale (POS) operations in Nigeria has raised concerns over the N500 million to N1 billion capital requirement for Virtual Assets Service Providers (VASPs) by the Securities and Exchange Commission (SEC).
The committee, chaired by Olufemi Bamisile, raised the concerns during its technical session with relevant regulatory and security agencies held on Monday a
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