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Introduction
On 2 and 3 July 2026, the Securities and Exchange Commission (the “SEC” or “Commission“) issued public notices confirming the admission of 9 (nine) Virtual Asset Service Providers (“VASPs“) into its Accelerated Regulatory Incubation Programme (“ARIP“), granting them Approval-in-Principle (“AIP“).
The admissions represent a significant acceleration in the Commission’s engagement with the digital assets industry, following a protracted period of regulatory caution after the grant of Approval-in-Principle to the first batch participants in 2024.
The ARIP Regulatory Roadmap
The July 2026 ARIP admissions must be understood against the backdrop of several significant regulatory developments.
These latest admissions are strategically timed, coming after the enactment of the Investments and Securities Act 2025 (“ISA 2025“). The ISA 2025 expands the definition of “securities” to expressly include virtual and digital assets, thereby placing them within the regulatory purview of the Commission. This classification imposes registration, licensing, disclosure and compliance obligations on VASPs, aligning digital assets offerings with the traditional debt and equity securities regulatory framework.
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Should you have any questions on this legal alert, please do not hesitate to contact Ajibola Asolo.