The Central Bank of Nigeria (CBN) issued regulations requiring foreign-currency stablecoin issuers to maintain paid-up capital of at least 15 billion naira. The regulations also require BVN verification for P2P transactions. The CBN will regulate virtual assets that are not securities, as well as stablecoins used for payments, settlement, and remittances. The Securities and Exchange Commission (SEC) will continue to regulate virtual assets that are securities.