Nigeria's SEC proposes to increase cryptocurrency company registration fees by 400%

ChainCatcher news, according to a notification released on Friday, Nigeria's securities regulator has proposed to increase the registration fees for cryptocurrency companies by 400% in response to the country's crackdown on the industry.
The proposed amendments to the rules for cryptocurrency issuers, exchanges, and custodial platforms include an increase in all regulatory fees. The U.S. Securities and Exchange Commission (SEC) now charges an application fee of 300,000 naira (approximately $64) for each application and a registration fee of 30 million naira, and it aims to charge cryptocurrency companies a registration fee of 150 million naira.