VASP framework background
SEC Nigeria announced the VASP framework in 2022, formalised through 2024–2025. The framework licenses crypto exchanges, custodians, and conversion services.
Monica's status
Operating within the VASP framework guidelines. Active engagement with SEC on formal licensing process. Compliance practices align with VASP requirements.
What this means for users
Same regulatory protection as any SEC-recognised financial service. KYC, transaction monitoring, AML all per VASP standards.
FAQ
Is Monica SEC-aligned?
Operating within the SEC's VASP framework with active formal licensing engagement.
Is my activity reported to SEC?
Standard regulatory reporting per SEC and AML obligations.