Nigeria bans algorithmic stablecoins and adds reserve rules for issuers

Nigeria has banned algorithmic stablecoins and imposed reserve requirements on stablecoin issuers as part of expanded central bank oversight of crypto payment services. The rules tighten the operating environment for stablecoin projects and payment providers in one of Africa's largest crypto markets. Traders should watch for reduced stablecoin liquidity and possible delistings or relocations by affected issuers in Nigeria.