KuCoin has been selected as a pilot for the Central Bank of Nigeria's virtual asset regulation, highlighting its global compliance strategy
By: rootdata|2026/04/02 21:47:00
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The Central Bank of Nigeria (CBN) recently launched a regulatory pilot program for Virtual Asset Service Providers (VASP). The first batch of participating institutions includes several regional fintech and digital asset companies, among which KuCoin is the only selected global exchange.
The pilot focuses on compliance with anti-money laundering (AML), counter-terrorism financing (CFT), and counter-proliferation financing (CPF), aiming to strengthen risk management and regulatory capabilities in the digital asset industry, and align with international standards such as those set by the Financial Action Task Force (FATF).
According to the arrangements, participating institutions are required to conduct structured regulatory communications, submit regulatory data regularly, and advance compliance practices in key areas such as corporate governance, transaction monitoring, sanctions screening, and cross-border transaction "Travel Rule."
KuCoin CEO BC Wong stated that constructive regulatory dialogue is an important foundation for the long-term sustainable development of the digital asset industry, and the company will continue to strengthen communication and cooperation with global regulatory agencies to promote transparency and enhance risk management capabilities.
The market generally believes that this selection reflects KuCoin's ongoing progress in advancing compliance strategies globally, while also indicating that Nigeria is moving towards a more systematic and forward-looking phase in digital asset regulation.
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