Bloomberg: Nigeria’s central bank imposes strict rules on banks after lifting cryptocurrency ban

Nigeria’s central bank has issued the first-ever guidelines for banks to open cryptocurrency accounts, while retaining a ban on banks holding or trading virtual assets on their behalf. The rules were published on the central bank's website on Tuesday, detailing the regulator's decision last month to lift a ban on banks operating accounts for crypto service providers. It noted: “Current global trends demonstrate the need to regulate the activities of virtual asset service providers, including cryptocurrencies and crypto-assets.” (Bloomberg)