Nigerian SEC Rejects Reports of Issuing Crypto Provisional Licenses

Nigeria’s Securities and Exchange Commission (SEC) clarified that it has not issued any crypto licenses, despite recent reports. The SEC plans to begin licensing digital services and tokenized assets in August 2024.

Amid increased regulatory scrutiny of the crypto industry. This comes as part of broader efforts to regulate crypto exchanges, including requiring the delisting of the naira from peer-to-peer trading to prevent currency manipulation. “Approval is yet to be given to anyone,” confirmed SEC Director General Emomotimi Agama.

Clever Robot News Desk 22^nd August 2024