Nigeria’s Securities and Exchange Commission (SEC) plans to issue licenses to cryptocurrency exchanges.
In June, the SEC amended its rules on Digital Asset Issuance, Offering Platforms, Exchange, and Custody, announcing its intention to regulate the burgeoning asset class. This amendment is expected to enhance the regulatory environment.
In a Bloomberg Television interview, SEC Director-General Emomotimi Agama stated:
“As a crypto and fintech enthusiast, I can assure you this will happen sooner than you think.”
He emphasized the importance of supporting the country’s youth to benefit from fintech advancements, noting the significant and growing market size.
