Tech

Cryptocurrency Research Unit Established in Nigeria

[ad_1]

The Nigerian financial regulator has set up a research division with the aim of regulating the crypto-asset industry. The new unit will conduct research on crypto-asset investments and products to produce guidelines to help protect investors.

Eight months after the Central Bank of Nigeria banned banks from providing services to crypto entities and investors, the Nigerian Securities and Exchange Commission has come to the fore for the digital asset industry. established a FinTech unit to help make arrangements.

According to CryptoPotato, the new unit will conduct research on crypto-asset investments and products to produce regulatory guidelines that will help protect investors. Speaking about the development, Lamido Yuguda, the general manager of the institution, said, “To see how we can enact regulations that will help investors protect their blockchain investments. We are looking closely at this market.” said.

Regulations will take place when digital currencies are integrated

Nigeria cryptocurrency

The SEC rules all crypto assets “securities unless proven otherwise.Yuguda added that when digital currencies are integrated into the Nigerian banking system, the institution will take steps by making regulations.

Although the institution has just set up its FinTech research unit, six months before the Central Bank of Nigeria (CBN) ban last year announced its intention to regulate the crypto-asset space. The financial watchdog said in September 2020 that it is well equipped to provide regulatory guidelines for the industry.

RELATED NEWS

Cryptocurrency Statement That Will Not Surprise Donald Trump: I Feel It Hurts The US Currency

Source :
https://www.coinkolik.com/nijerya-duzenleyicisi-kripto-varliklari-arastirmak-icin-bir-fintek-birimi-kurdu/

[ad_2]