Nigerian SEC to Issue First Crypto Licenses This Month
CryptoNewsTerminal Staff20 Aug, 2024
Nigerian SEC to Issue First Crypto Licenses This Month
Nigeria’s SEC to Issue First Crypto Licenses This Month The Securities and Exchange Commission of Nigeria (SEC) will begin issuing licenses to virtual asset service providers, including cryptocurrency exchanges, this month. “Before the end of this month, we will be licensing the first set of operators for our digital services and tokenized assets. We are going to have a full-fledged regulatory regime for crypto assets,” said Momotimi Agama, the SEC’s acting director general. “What we are doing is trying to respond to the increasing demand for crypto assets. We have seen a huge increase in that market,” he added. Nigeria’s tax authority recently announced that it would submit a bill to parliament next month to tax cryptocurrencies.
