Cryptocurrency: SEC, CBN commences work on trading regulation


[ad_1]

The Securities and Exchange Commission (SEC) is working with the Central Bank of Nigeria (CBN) on the regulation of cryptocurrency.

The SEC Director-General, Lamido Yuguda disclosed this at the 2021 first post-Capital Market Committee (CMC) virtual news conference.

RELATED:  Again, six killed by bandits in Kaduna village

He explained that the commission suspended the implementation of crypto assets guidelines due to a lack of access to Nigerian bank accounts.

The public will be informed of the outcome of the engagements with the CBN, Yuguda added.

RELATED:  Insecurity: Nigeria 50 years backward, El-Rufai reaping from evil plotted against Rivers - Wike

The official assured that SEC remained supportive of Fintechs and was developing a framework to support their operations.

“With the recent prohibition by the CBN on access to Nigerian bank accounts by crypto exchanges, that market has been disrupted.

RELATED:  Nigeria will overcome tough times - Foreign affairs minister, Onyeama

“Our aim is to ensure the delivery of safe products and services without stifling innovation”, Yuguda said.

Cryptocurrency: SEC, CBN commences work on trading regulation

[ad_2]

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments
0
Would love your thoughts, please comment.x
()
x