TechFlow news, on September 2, according to The Block, Quidax, a cryptocurrency exchange founded in Africa, announced it has obtained an interim operating license from the Nigerian Securities and Exchange Commission (SEC), becoming the first platform in the country to receive a digital asset exchange license. This marks Nigeria's formal recognition of the cryptocurrency industry and the beginning of necessary regulatory oversight.
Buchi Okoro, co-founder and CEO of Quidax, said this is a major victory for Nigeria's embrace of cryptocurrencies, paving the way for the country to surpass others in crypto regulation. The license allows Quidax to collaborate with banks and other financial institutions, although approval from the Central Bank of Nigeria is still required.
