According to CoinMeta, KuCoin Nigeria has confirmed that it has received preliminary approval from the Nigerian Securities and Exchange Commission (SEC) to advance its regulatory application, but has not yet obtained permission to launch cryptocurrency trading services. The company announced on October 13th that it had been included in an accelerated regulatory incubation program (ARIP), which allows regulators to assess digital asset businesses under controlled conditions. Nevertheless, the regulatory decision was made prior to the announcement; SEC publicly confirmed in July that KuCoin Nigeria was a participant in ARIP. This decision is crucial for investors and potential customers, as regulatory approval does not mean that the exchange can immediately start serving the public.