Finance News
By Ayobami Abiola
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The Nigerian Securities and Exchange Commission (SEC) on Monday, 14th September made a statement on its stand as it starts regulating crypto-assets offering, trading, advisory,…
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“Be Warned! Virtual Currencies are NOT Legal Tenders. The #EFCC Advises against Crypto Currencies and Any Associated Dealings.”
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But since then, a lot of Nigerians have ventured in cryptocurrency and blockchain. From recent Coinmarketcap metrics, Nigeria saw a 210% increase in the number of crypto users…
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SEC Nigeria stated that its regulation is not to hinder technology but to create standards that encourage ethical practices:
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“The general objective of regulation is not to hinder technology or stifle innovation, but to create standards that encourage ethical practices that ultimately make for a fair…
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The regulation will cover individuals who operate or perform activities relating to the “reception, transmission and execution of orders on behalf of other persons, dealers on…
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“Existing digital assets offerings prior to the implementation of the Regulatory Guidelines will have three (3) months to either submit the initial assessment filing or documents…
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Nigeria has taken a step forward in the adoption of cryptocurrencies. China has led the way as the People’s Bank of China may be the first to offer a Central Bank Digital…
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“The Conference of State Bank Supervisors (CSBS) will on Tuesday unveil the new regulatory regime for money services businesses, which will undergo a single exam by a joint group…
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As the world governments begin to tend towards the regulation of cryptocurrencies, the Indian Government is taking a step backward as it is planning to pass a bill to ban…
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“India plans to introduce a new law banning trade in cryptocurrencies, placing it out of step with other Asian economies which have chosen to regulate the fledgling market.”
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Which Government do you think will make the next regulation for or against Cryptocurrency?
The Currency Analytics
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