The Central Bank of Nigeria (CBN) has released guidelines for banks on digital assets, a sign the country's regulators are softening their stringent stance on crypto. The guidelines, publicized Tuesday on the bank's website, provide greater details on the regulators’ decision to open accounts for virtual asset service providers last month. The rules are an about-face for Africa's largest economy, where a years-long ban once barred financial institutions from servicing crypto firms. “Current trends globally have shown that there is a need to regulate the activities of virtual assets service providers which include cryptocurrencies and crypto assets,” the CBN said Tuesday in a statement.
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