The federal government has released new guidelines aimed at protecting investors in digital assets.
The rules issued by the Securities and Exchange Commission (SEC) offers more clarity on trading in cryptocurrencies.
According to a statement on SEC website, the rules cover “issuance, offering platforms and custody of digital assets” for virtual technologies.
This is coming amidst controversy over the acceptability of cryptocurrencies in Nigerian financial ecosystem.
Despite order by the Central Bank of Nigeria (CBN) to commercial banks to stop transactions in cryptocurrencies, Nigeria is said to account for the largest volume of cryptocurrency transactions outside the U.S., as data from Paxful, a Bitcoin marketplace reveals.
The new rules cover the issuance of digital assets as securities, the registration of platforms and digital asset custodians, exchanges, and virtual assets service providers.
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