SEC Creates A Special Division To Study The Crypto Market
The Securities and Exchange Commission (SEC) said that it has now set up a department that will study the crypto market in order to create regulatory policies for the sector.
The agency’s Director-General, Lamido Yuguda, revealed this development during a virtual interview with Reuters on Thursday in Abuja.
“We are looking at this market closely to see how we can bring out regulations that will help investors protect their investment in blockchain,’’ Yuguda said.
The commission has sought to regulate the crypto market on the premise that crypto trading is equally a security transaction. According to Yuguda, the regulation will be fully frontal once crypto transactions are allowed back into the Nigerian banking system.
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