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International Business Times
International Business Times
Business
Marvie Basilan

HISTORICAL FACTS: Nigerian sec proposes whopping 95k registration fee for crypto exchanges - Caught on Camera

Nigeria, which has been targeting the cryptocurrency industry in recent months, has proposed significant amendments to fees crypto firms need to pay so they can operate in the country. (Credit: Traxer/Unsplash)

KEY POINTS

  • From a $63 filing fee, the Nigerian SEC wants it to be hiked to $190
  • It seeks to increase the processing fee to $635 from $190
  • Crypto platforms have been accused of pushing the Nigerian naira down

Nigeria's Securities and Exchange Commission (SEC) sought a 400% hike in registration fees for crypto exchanges as part of its proposed changes to its rules for platforms offering services on cryptocurrency and digital assets.

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