The Nigerian Securities and Exchange Commission’s (SEC) revised minimum capital requirements for digital asset entities have been labeled “anti-innovation” and could potentially drive talent out of the country, according to a prominent crypto expert. Ophi Rume, popularly known as Cryptopreacher, argues that Nigerian policymakers and regulators must be “guided by growth” when making decisions that significantly impact the digital asset industry.

Rume’s remarks followed the Nigerian SEC’s unveiling of the revised requirements, which in some instances more than doubled the capital operators must provide. The regulator maintains that the review is necessary to strengthen market resilience, enhance investor protection and align capital adequacy with the evolving risk profiles of market activities.

Read more: Study: Bitcoin Dominates Crypto Purchases in Nigeria, South Africa

According to a circular released on Jan. 16, the minimum capital requirement for digital asset offering platforms is now approximately $704,000 (1 billion naira), up from $352,170. For digital asset exchanges and custodians, the required capital is $1.4 million, up from $352,170. Under the new rules, ancillary virtual asset service providers are required to hold $211,300 in capital, while intermediaries and platform operators must maintain $352,170.

Rume criticized the steep increases, accusing the SEC of acting unilaterally. He noted that these moves potentially contradict the Nigerian government’s pledge to foster an enabling environment for its tech-savvy youth. He suggested that Nigerian regulators should look to the U.S. model, where industry players like Coinbase are actively involved in the legislative process.

The Blockchain Industry Coordinating Committee of Nigeria (BICCON) also expressed concern, stating that these thresholds “reduce Nigeria’s competitiveness relative to peer jurisdictions.” While the organization supports the concept of minimum capital, it argues that requirements must be proportionate to operational risks and aligned with the actual business models of digital asset firms.

BICCON concluded by reaffirming its openness to constructive dialogue with regulators to ensure Nigeria remains a globally competitive and well-regulated digital asset market.

• What changes did Nigeria’s SEC announce? The SEC raised minimum capital for digital asset firms, with some thresholds more than doubling.
• How much must exchanges and custodians hold now? They are required to maintain $1.4 million in capital under the new rules.
• Why does the SEC say the increases are needed? The regulator argues that they strengthen market resilience and enhance investor protection.
• What concerns have industry voices raised? Experts warn the rules may stifle innovation and reduce Nigeria’s global competitiveness.

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。