Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
Home»TRADING NEWS»Cryptocurrency exchange fees should increase fivefold
TRADING NEWS

Cryptocurrency exchange fees should increase fivefold

By Crypto FlexsMarch 17, 20242 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Cryptocurrency exchange fees should increase fivefold
Share
Facebook Twitter LinkedIn Pinterest Email

Nigeria’s Securities and Exchange Commission (SEC) has proposed a significant increase in registration fees for cryptocurrency exchanges operating in the country.

The proposed amendments would increase the fee from the current 30 million naira (about $18,620) to 150 million naira ($93,000). The adjustments are part of a wider range of changes proposed to strengthen the regulatory framework for digital asset service providers.

The SEC is also seeking to provide clearer regulatory guidance for cryptocurrency services. This includes incorporating feedback from industry stakeholders, particularly following recent discussions with the Central Bank of Nigeria (CBN).

The initial rules and guidelines for cryptocurrency and digital asset service providers were published by the Nigerian SEC in May 2022. However, on Friday March 15, 2024, the Commission announced its intention to amend these rules.

Under the proposed changes, the application fee for institutions such as digital asset exchanges, digital asset offering platforms and digital asset custodians will increase from 100,000 naira ($62) to 300,000 naira ($186).

The registration processing fee will also increase by 234% from 300,000 naira ($186) to 1 million naira ($620).

Another important modification includes changing the rule name. The name changes from “New Rules on Issuance, Offering Platforms, and Storage of Digital Assets” to “Rules on Issuance, Offering Platforms, Exchanges, and Storage of Digital Assets.”

diplomatic friction

Meanwhile, Tigran Gambaryan, a US citizen and head of the criminal investigation team at the Binance cryptocurrency exchange, has been detained by Nigerian authorities without formal charges since February 26, 2024.

The circumstances surrounding the arrest prompted U.S. government intervention.

Gambarian and one of his associates were reportedly detained by armed individuals after being lured to Nigeria under false pretenses.

Their passports have been confiscated and they are being held in an undisclosed location, raising speculation that there may be a government-led effort to secure a large ransom from Binance.

The lack of clear charges against detained individuals and their denial of legal representation led to criticism of the legality of their detentions.

The case not only challenges international legal norms but also strains diplomatic relations between Nigeria and the United States, which provides Nigeria with more than $1 billion in foreign aid annually.

Follow us on Google News

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

It shows a graphite network. Tesla is nothing without trust because Tesla’s Tesla spent $ 150 billion after Musk and Trump’s fallout.

June 7, 2025

XRP price prediction by reducing the volume of RLUSD (RIPPLE USD)

June 7, 2025

Why is the ecosystem of the SEI network boom in the second quarter?

June 6, 2025
Add A Comment

Comments are closed.

Recent Posts

HOLONYM’s Human Network: Convert on boarding on boarding on human -friendly keys

June 7, 2025

The SEC gets $ 1.1m case when Crypto Schemer crosses the court.

June 7, 2025

NFT artists reproduce ‘password tax nightmares’ with new songs.

June 7, 2025

NVIDIA’s GB200 NVL72 and Dynamo improve MoE model performance

June 7, 2025

Despite market volatility

June 7, 2025

TEZOS promotes scaling efforts by activating data soluble layers.

June 7, 2025

It shows a graphite network. Tesla is nothing without trust because Tesla’s Tesla spent $ 150 billion after Musk and Trump’s fallout.

June 7, 2025

The merchant warns that Bitcoin is in ‘cancer price behavior’.

June 7, 2025

Is Bitcoin Price Rally $ 150K by the end of the year?

June 7, 2025

How does it affect Bitcoin?

June 7, 2025

Gala Games introduces a step -by -step approach to founder node staking.

June 7, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

HOLONYM’s Human Network: Convert on boarding on boarding on human -friendly keys

June 7, 2025

The SEC gets $ 1.1m case when Crypto Schemer crosses the court.

June 7, 2025

NFT artists reproduce ‘password tax nightmares’ with new songs.

June 7, 2025
Most Popular

BarnBridge DAO has reached a $1.7 million settlement with the SEC and agreed to stop selling cryptocurrency bonds.

December 23, 2023

HKMA warns public about fraudulent websites and social media accounts linked to Airstar Bank

August 26, 2024

Bitcoin, Ethereum, EigenLayer – a play in three acts

December 23, 2023
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.