Nigeria's SEC Admits Yellow Card, Blockchain Africa, Pisi to Crypto Sandbox

The firms have been granted Approval-in-Principle (AIP) status, which permits them to operate within the defined scope of the programme while remaining subject to conditions set by the regulator. The SEC noted that an AIP confirms an entity has met its requirements for admission but is not a final licence, and remains conditional on continued compliance with applicable regulatory, operational, and supervisory obligations.

ARIP is designed to fast-track the onboarding of digital asset and investment service providers through a controlled regulatory environment, allowing the Commission to assess new business models and technologies while maintaining investor safeguards.

With these additions, the programme now covers 12 firms since July, according to TechCabal. The regulator had admitted nine firms into the sandbox in July, including the investment platform GetEquity and cryptocurrency exchanges KuCoin Nigeria and Luno.

An attacker chained six flaws to credit a pool with tens of millions of unfunded CACAO tokens, draining real assets and forcing MAYAChain to halt its network.