Nigeria may allow asset-backed tokens but not crypto.
After the spread of the crypto money industry, the steps that governments will take on the subject are also a matter of curiosity. However, new statements came from Nigeria’s SEC.
Nigeria’s SEC Discloses On Crypto
According to a report, Nigeria’s SEC is considering authorizing exchanges that trade asset-backed tokens. In contrast, there will be no enforcement for firms involved in crypto trading, which is restricted by the country’s central bank.
According to a report by Bloomberg, regulators in Nigeria are considering licensing digital exchanges that trade tokens backed by assets such as stocks, debt and property, but there are no plans yet to allow crypto trading.
Abdulkadir Abbas, head of securities and investment services at the Nigerian Securities and Exchange Commission, said:
“As a regulator, we always like to start with a very simple and clear proposition before moving on to the complex ones.”
According to the report, the SEC in Nigeria has started processing applications for digital exchanges. Nigeria’s central bank has restricted crypto trading in the country for some time now. But things in the country are starting to change.
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