KuCoin Becomes Sole Global Exchange in Nigeria’s New VASP Oversight Pilot

New updates have been reported about KuCoin.

KuCoin has been selected as the only global crypto exchange to join the Central Bank of Nigeria’s new supervisory pilot for Virtual Asset Service Providers, positioning the firm at the center of Nigeria’s evolving digital asset regulatory framework. The program will test and refine enhanced Anti-Money Laundering, Counter-Financing of Terrorism, and Counter-Proliferation Financing controls, giving KuCoin direct input into how these standards are shaped in one of Africa’s most important markets.

Under the pilot, KuCoin will engage in structured dialogue with the CBN, provide regular supervisory data, and demonstrate progress in areas such as governance, transaction monitoring, sanctions screening, and implementation of the Travel Rule for cross-border flows. CEO BC Wong said the initiative is a key step toward greater transparency and regulatory clarity in emerging markets, aligning with KuCoin’s global compliance strategy, which already includes AUSTRAC registration in Australia and a MiCA license in Europe. The move signals both a deeper regulatory engagement by Nigeria and KuCoin’s continued investment in compliance infrastructure to support long-term growth in high-potential jurisdictions.