THE BLOCK · 2026-11-06 11:42 UTC

Nigeria's central bank introduces stablecoin licensing rules, bans algorithmic versions

Nigeria's central bank has introduced stablecoin licensing rules that took effect on Nov. 5. The rules create separate licensing categories for naira-referenced and foreign-currency-referenced stablecoins and prohibit algorithmic stablecoins. They also impose anti-money laundering and transaction-monitoring requirements on virtual asset activities.

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