The Securities and Exchange Commission (SEC) has revealed plans to issue updated guidelines for the operations of digital assets and virtual assets service providers in the country.
In an update from the SEC last week, the commission said the new guidelines will ensure criminals do not gain entry into the country’s capital market.
It will be recalled that crypto exchange, Binance, announced that it was ceasing naira services on its platform, following clashes with the Federal Government, which had accused the platform of manipulating the value of the naira through speculative activities.
“The SEC has also developed new AML/CFT/CPF AML/CFT/CPF onboarding manual for licensing/registration and ongoing screening of Digital and VASP beneficial owners to ensure that criminals are not registered as operators in the capital market,” the release stated.
The SEC is ready to interface with genuine VASPs based on these clear rules and regulations,” the SEC notice noted
SEC also said that following engagement with the Central Bank of Nigeria, updates are being made to its rules.
“That will soon be exposed to the market for comment before final approval. For ease of reference relevant rules and regulations issued by SEC on the regulation of Digital Assets and VASPs have been collated for use by potential applicants and the public,” it stated.
The outage, which began around 9AM WAT, has drawn significant attention online, as affected users…
The incident took place around 10:00 am at Dreierschützengasse High School, near the city's central…
He downplayed the incident, calling it “a small thing” that would “be over tomorrow.”
She explained that research has confirmed that animal diseases often affect human beings
Cross River currently operates two Boeing 737-300 aircraft through a management arrangement with a domestic…
Across all countries, 39% of respondents cited money concerns as the main reason they hadn’t…
This website uses cookies.
