Nigerian SEC 'Remains Open-Minded on Crypto … Not Opposed To It'
CryptoNewsTerminal Staff11 Aug, 2024
Nigerian SEC 'Remains Open-Minded on Crypto … Not Opposed To It'
The Nigerian Securities and Exchange Commission (SEC) is not opposed to cryptocurrencies, but is rather open-minded to creating a regulatory framework for them, the commission’s director-general, Mr. Lamido Yuguda, has said. Speaking on a local television news program, Yuguda said: “Our primary objective at SEC has always been the protection of investors and ensuring the integrity of the market. We are working to ensure that people understand the concept of cryptocurrency, how to transact it properly. However, be rest assured that anyone who runs foul of regulations will be dealt with decisively.” Recall that the SEC recently obtained a court order to arrest and prosecute the country manager of Binance, Mr. Tigran Gambaryan, over alleged money laundering.
