Nigeria's securities regulator is considering allowing tokenized assets on digital exchanges but not crypto, according to a Bloomberg report. By iamsandali
“We always like to start, as a regulator, with a very simple clear proposal before we go into the complex ones," Abdulkadir Abbas, head of securities and investment services at the Abuja-based commission reportedly said.
The regulator is also processing applications for digital exchanges on a trial basis intending them to undergo one year of “regulatory incubation” with limited services offered and under SEC monitoring to determine the firms' fitness to provide services. “By the 10th month, we should be able to make a determination whether to register the firm, extend the incubation period or even ask the firm to stop operation,” Abbas told Bloomberg.
According to the report, the SEC will not start registering digital asset exchanges until it reaches an agreement with the nation's central bank, whichfrom interacting with crypto services providers. Before the central bank doubled down on its restrictive rule, Nigeria was one of the fastest crypto adopters in the region.
Despite the central bank's resistance, there have been attempts to include crypto in the scope of regulations, with a new bill in the works that
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
SEC looking to enact stiff penalties on schools if fans storm the fieldThe SEC will consider a new proposal to put an end to field — and court — storming for good. Here's what to know.
Les mer »
Former SEC Lawyer Critiques Crypto as Total FailureFormer SEC lawyer John Reed Stark critiqued cryptocurrencies as failed investment, citing their shortcomings as investments, currencies, stores of value and financial solutions for unbanked
Les mer »
SEC serves $4M in fines to Coinme over ‘misleading’ UpToken ICOCoinme, Up Global and the CEO of both companies, Neil Bergquist have been served nearly $4 million in fines from the SEC for selling unregistered securities and misleading Initial Coin Offering (ICO) investors.
Les mer »
US FDIC asks JPMorgan, PNC for final First Republic bids - Bloomberg News By Reuters*FDIC ASKS JPMORGAN, PNC FOR FINAL FIRST REPUBLIC BIDS DUE SUNDAY $JPM $PNC $FRC
Les mer »