According to Premium Times, the Nigerian Senate passed a second reading of a cryptocurrency regulation bill, aiming to establish a comprehensive regulatory framework for virtual assets, digital assets, and Virtual Asset Service Providers (VASPs), and requiring crypto exchanges and VASPs operating in Nigeria to obtain mandatory licenses, transparency, and compliance. The bill has been submitted to the Senate Capital Markets Committee for further review, and the committee will submit a report within four weeks after a public hearing. If ultimately approved by the National Assembly and signed by the president, it will mark the further development of Nigeria's crypto regulatory framework.