Framework On Accelerated Regulatory Incubation Program (ARIP) For The Onboarding Of Virtual Assets Service Providers (VASPs)

The Securities and Exchange Commission [“the Commission”] hereby notifies the general public, that the Rules on Digital Assets Issuance, Offering Platforms, Exchange and Custody is going through an amendment process. The purpose of the amendment is to expand the scope of regulation in line with the current realities.

The Commission hereby provides a special window for the on boarding of Virtual Assets Service Providers [“VASPs”] tagged Accelerated Regulatory Incubation Programme [“ARIP”].

By this Circular, all operating and prospective VASPs are hereby directed to visit the SEC ePortal to complete the application process no later than 30 days from the date of this Circular.

Please visit the Commission’s website for comprehensive guidance on the ARIP Framework.

The Commission will thereafter commence enforcement action against any operating VASP that fails to comply with the directives in this Circular.