PANews reported on April 2nd that the Central Bank of Nigeria (CBN) recently launched a regulatory pilot program for Virtual Asset Service Providers (VASPs). The initial participants include several regional fintech and digital asset companies, with KuCoin being the only global exchange selected.

The pilot program focuses on compliance with anti-money laundering (AML), counter-terrorist financing (CFT), and counter-proliferation financing (CPF) regulations. It aims to strengthen risk management and regulatory capabilities in the digital asset industry and align with international standards such as the Financial Action Task Force (FATF).

According to the plan, participating institutions are required to conduct structured regulatory communications, submit regulatory data regularly, and promote compliance practices in key areas such as corporate governance, transaction monitoring, sanctions screening, and the "Travel Rule" for cross-border transactions.

KuCoin CEO BC Wong stated that constructive regulatory dialogue is a crucial foundation for the long-term sustainable development of the digital asset industry, and the company will continue to strengthen communication and cooperation with global regulatory agencies to promote transparency and improve risk management capabilities.

The market generally believes that this selection reflects KuCoin's continued progress in advancing its compliance strategy globally, and also demonstrates that Nigeria is moving towards a more systematic and forward-looking stage in the regulation of digital assets.