The Central Bank of Nigeria (CBN) has initiated a regulatory pilot project targeting virtual asset service providers (VASPs), with KuCoin being the only global crypto exchange among the initial participants. The pilot focuses on compliance with anti-money laundering (AML), counter-terrorism financing (CFT), and counter-proliferation financing (CPF) standards. This initiative aims to enhance risk management in the digital asset sector and align with international standards set by the Financial Action Task Force (FATF). Participating institutions are required to regularly submit regulatory data and advance compliance practices in key areas such as corporate governance, transaction monitoring, sanctions screening, and the "Travel Rule" for cross-border transactions.