{"id":5538,"date":"2025-12-28T06:29:12","date_gmt":"2025-12-28T06:29:12","guid":{"rendered":"https:\/\/www.adeolaoyinlade.com\/?p=5538"},"modified":"2025-12-28T06:29:12","modified_gmt":"2025-12-28T06:29:12","slug":"%e5%a6%82%e4%bd%95%e5%9c%a8%e5%b0%bc%e6%97%a5%e5%88%a9%e4%ba%9a%e6%b3%a8%e5%86%8c%e5%b9%b6%e8%8e%b7%e5%be%97%e8%99%9a%e6%8b%9f%e8%b5%84%e4%ba%a7%e6%9c%8d%e5%8a%a1%e6%8f%90%e4%be%9b%e5%95%86-vasp","status":"publish","type":"post","link":"https:\/\/www.adeolaoyinlade.com\/zh\/how-to-register-and-obtain-license-as-a-virtual-assets-service-provider-vasp-in-nigeria\/","title":{"rendered":"\u5982\u4f55\u5728\u5c3c\u65e5\u5229\u4e9a\u6ce8\u518c\u5e76\u83b7\u5f97\u865a\u62df\u8d44\u4ea7\u670d\u52a1\u63d0\u4f9b\u5546\uff08VASP\uff09\u8bb8\u53ef\u8bc1"},"content":{"rendered":"

Introduction<\/strong><\/p>\n

The rapid growth of virtual assets and blockchain-based businesses has positioned Nigeria as one of Africa\u2019s most active digital asset markets. In response to this expansion, Nigerian regulators have increasingly taken steps to provide clarity, oversight, and investor protection within the virtual asset ecosystem. For businesses seeking to operate legally and sustainably in this space, understanding the applicable regulatory requirements is no longer optional but essential.<\/p>\n

This article provides a practical guide on how to register and obtain a licence as a Virtual Asset Service Provider (VASP) in Nigeria. It examines the key laws, regulations, and regulatory institutions governing virtual asset activities, outlines the registration pathways available to VASPs, and explains the compliance obligations at each stage, from initial assessment and regulatory incubation to full registration and regularisation. The objective is to equip promoters, startups, and established digital asset businesses with a clear roadmap for navigating Nigeria\u2019s evolving VASP regulatory framework.<\/p>\n

Regulatory framework<\/strong><\/p>\n

The regulatory landscape for virtual assets in Nigeria remains dynamic and evolving. The primary regulatory authority overseeing Virtual Asset Service Providers (VASPs) is the\u00a0Securities and Exchange Commission (SEC). The following regulate Virtual Asset services in Nigeria;<\/p>\n

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  1. Investment and Securities Act 2025<\/strong><\/li>\n<\/ol>\n

    The SEC first set out its regulatory position on virtual crypto assets in a circular issued on 14 September 2020, titled Statement on Digital Assets and their Classification and Treatment, in which it affirmed that virtual crypto assets constitute securities and therefore fall within the SEC\u2019s regulatory jurisdiction. The ISA 2025 introduces substantial provisions relating to Virtual Asset Service Providers (VASPs). Under Section 3 of the Act, the SEC is reaffirmed as the apex regulator of the Nigerian capital market, and the Act expressly extends regulatory oversight to participants in the virtual asset ecosystem, including Virtual Asset Service Providers (VASPs), Digital Asset Offering Platforms (DAOPs), and Digital Asset Exchanges. Consequently, these entities are now legally required to register with the SEC and comply with its applicable rules and regulations.<\/p>\n

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    1. Rules on Issuance, Offering Platforms and Custody of Digital Assets (\u201cDigital Asset Rules), 2022\u00a0<\/strong><\/li>\n<\/ol>\n

      On 11 May 2022, the SEC issued its first regulatory framework, titled Rules on Issuance, Offering Platforms, and Custody of Digital Assets, to govern the operations of Virtual Asset Service Providers (VASPs). This framework was later amended to reflect evolving market dynamics and technological developments.<\/p>\n

      Under the Amended Rules, a Virtual Asset Service Provider may apply to the Commission for registration in any one of the following categories:<\/p>\n

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      1. Digital Asset Offering Platforms (DAOP);<\/li>\n
      2. Digital Asset Exchanges (DAX)<\/li>\n<\/ol>\n