SEC VASP Rules
Market regime · SEC Nigeria Rules on Digital Assets Issuance, Offering Platforms and Custody
Securities and Exchange Commission, Nigeria
Nigeria
Rules 2022; under active revision
SEC Nigeria
Virtual asset service providers and digital-asset operators in Nigeria
Curated, versioned & cross-mapped
The obligation, plainly.
The SEC's digital-asset rules bring virtual asset service providers into the regulated perimeter: registration categories, capital and fit-and-proper requirements, custody standards including asset segregation, AML/CFT obligations aligned with the national regime, and disclosure duties.
The rulebook is young and moving, revisions have been in active progress, which makes versioned curation the only sane way to track it: the catalog carries the current rules and versions the changes as the SEC issues them.
Where programmes are tested.
Registration and standing
The right registration category, capital and fit-and-proper evidence maintained.
Custody and segregation
Client assets segregated and safeguarded to the rules' custody standards.
AML and disclosure
The national AML regime applied to virtual assets, plus the SEC's disclosure duties.
Curated once, evidenced continuously.
- VASP obligations are curated and cross-mapped to the financial-crime and governance families; the commitment-level clauses (minimum capital) are marked honestly as unmapped. The rules are under active revision, and the catalog versions with them.
- Requirements resolve to shared controls: implement a control once and it counts toward every framework it maps to.
- Status is evidence-gated: a requirement can't be marked implemented without valid, in-date evidence behind it.
- Every attestation carries maker/checker, and every action lands in an append-only audit trail.
SEC VASP Rules, asked plainly.
The questions compliance teams actually ask before an adoption decision or an audit.
Who needs to register under the SEC's digital-asset rules?
Operators the rules define as virtual asset service providers, exchanges, offering platforms, custodians, in the applicable category. The perimeter has been evolving alongside CBN policy on crypto, so scoping decisions deserve current legal advice.
How do the SEC rules interact with the CBN's position on crypto?
They are complementary pieces of a moving picture: the SEC regulates digital assets as securities and their service providers, while CBN policy governs banking access. The practical compliance programme spans both, which is why the catalog maps VASP obligations onto the same financial-crime controls the CBN regime uses.
The rules are being revised — what should we build against?
The current rules, with change-readiness: the obligations' substance, registration, custody, AML, disclosure, persists across drafts. The catalog tracks revisions as versions, so an adopted framework upgrades deliberately rather than by surprise.
Where it connects.
The full catalogCompliance you can prove.
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Book a working demo. We'll map your obligations to the standards you're audited against and the regulators you actually answer to.
The platform, modules, catalog, audit trail and security architecture are live today; the continuous live-evidence engine is in active development, shown in a working demo. Reach us at hello@cardinalgrc.com.