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SEC Nigeria Will Be Releasing New Guidelines For the Regulation of Digital Assets—Cryptocurrency.

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Last updated on November 16th, 2020 at 11:30 am

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Fintech Association of Nigeria confirms that SEC Nigeria will be releasing new guidelines for the regulation of cryptocurrency.

Security Exchange Commission — SEC Nigeria will be releasing new guidelines for cryptocurrency according to Fintech Nigeria.

During an AMA Series Session by Fintech Nigeria on twitter, Diutocoinnews was able to gather that cryptocurrencies are yet to be regulated in Nigeria. 

The question was “if cryptocurrency is regulated under Fintech Nigeria?”, Diutocoinnews was able to gather that the Security Exchange Commission of Nigeria will be releasing new guidelines on the operation of digital assets in Nigeria.

Read Also: Nigeria Outlines the Draft on National Blockchain Adoption Strategy for the National Adoption of Blockchain Tech and DLT in Nigeria.

Moreover, SEC had released a draft rules on cryptocurrency where it was classified as virtual assets. 

“Cryptocurrencies are currently not regulated in Nigeria but SEC will be coming out soon with guidelines on operations of digital assets which includes cryptocurrencies.We can share a copy of draft Rules by SEC on crypto classified as a virtual asset with you.”

We can recall that the Final FinTech Roadmap Report accepted by the Capital Markets community classified cryptocurrencie as Commodities or Securities NOT currency.

But now, the recent update from the Fintech Nigeria confirms that Cryptocurrencies are not regulated in Nigeria. 

About The Author

By Tony Chimdiuto

Diutocoinnews Admin. Send all publications to info@diutocoinnews.com.ng

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