TechFlow news: According to a notice released on Friday, Nigeria's securities regulator has proposed increasing registration fees for cryptocurrency companies by 400% as part of its crackdown on the industry.
The proposed amendments to rules governing crypto issuers, exchanges, and custodial platforms include increased regulatory fees across the board. The SEC currently charges 300,000 naira (about $64) as an application fee and 3 million naira as a registration fee, but now wants to charge cryptocurrency firms 150 million naira for registration.
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