Significant events took place in the cryptocurrency world this week, including plans for a BNB ETF launch and new legislative initiatives in Nigeria.
BNB Chain and the First U.S. ETF
VanEck has filed to register a trust for a Binance Coin (BNB) ETF in Delaware. This filing, dated March 31, is a key move ahead of a formal application to the SEC. While BNB investment products exist in other markets, such as 21Shares BNB ETP, no U.S.-based ETF currently tracks BNB.
PayPal Adds Solana and Chainlink
PayPal has expanded its list of supported cryptocurrencies for U.S. users, now including Solana (SOL) and Chainlink (LINK). Users can buy, sell, and hold SOL and LINK directly through PayPal’s wallet, eliminating the need for third-party apps.
New Legislative Initiative in Nigeria
President Bola Tinubu has signed the Investments and Securities Act (ISA) 2025 into law, officially recognizing cryptocurrencies as an asset class in Nigeria. This new legislation ends years of uncertainty and grants the Securities and Exchange Commission (SEC) full regulatory oversight of the crypto industry. The law also targets fraud, criminalizing Ponzi schemes and introducing strict penalties for deceptive investment practices.
These developments highlight the growing significance of cryptocurrencies and the need for regulation in this area, which may alter the future of the market.
