CryptoCointelegraphabout 1 hour ago
Nigeria Bans Algorithmic Stablecoins Immediately
2 min read
Nigeria's Central Bank banned algorithmic stablecoins and introduced new licensing rules effective Thursday, requiring 180 days for existing operators to apply. Issuers must hold 2% reserve buffers with 40% in cash, while minimum capital stands at 10 billion naira for naira-backed tokens and 15 billion naira for foreign currency-backed ones.
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