Nigeria's securities regulator establishes fintech unit to study crypto
With much of the Nigerian crypto market underground or peer-to-peer due to government restrictions, the country’s securities regulator is looking into ways to make investors safer. In 2021, financial institutions operating in Nigeria have been the lever of a government crackdown on cryptocurrencies, beginning with February’s notorious central bank ban on lenders providing services to crypto exchanges in the country. With much of the Nigerian crypto market of necessity peer-to-peer, Nigeria’s Securities and Exchange Commission (SEC) now aims to introduce regulations that could regularize....
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Nigeria’s securities regulator, the Nigerian Securities and Exchange Commission (SEC) has set up a fintech division “to study crypto investments.” This was revealed by Lamido Yuguda, the director-general of the SEC during an interview. Protecting Crypto Investors In the interview, Yuguda explains that the study’s findings will help inform the SEC of the best ways to regulate cryptocurrency should the Central Bank of Nigeria (CBN)’s February 6 directive be lifted. However, the director-general did not provide a time frame for issuing regulations or state....
The National Securities Commission (CNV), which is the Argentinian securities watchdog, recently launched an innovation hub with the goal of advancing conversations about cryptocurrency and fintech investments. This organization will serve as a link between private entities and the institution, to advance new fintech and crypto-regulated instruments to the market.
Argentinian Securities Regulator Assigns Fintech And Crypto Special Importance
The National Securities Commission (CNV), the Argentinian Securities regulator, is reportedly taking action to streamline the arrival of new....
According to the findings of a study by Afriwise, Kenya, Nigeria, and South Africa have the most developed fintech ecosystems on the continent. The study points to early regulation as one of the reasons for the industry’s success in these countries.
Regulated Fintech Ecosystems Attract Investors
Explaining the key role that regulation has played in the growth of the fintech sector in these three countries, the study states:
The connection between regulations and a flourishing fintech sector is an important one. It is no coincidence that investors and businesses in....
Nigeria’s Securities and Exchange Commission (SEC) has revealed that talks with the Central Bank of Nigeria (CBN) regarding the regulation of cryptocurrencies are ongoing. The securities regulator also reiterated that due to a CBN directive that was issued on February 7, 2021, the crypto guidelines it issued in September 2020 remain suspended. Crypto Guidelines Set Aside However, the regulator promises that at the conclusion of its engagements with the CBN, stakeholders will be informed of the outcome. Meanwhile, in his comments that were made during a Q1 Capital Market Committee....
Nigeria has taken the lead in regulating digital assets in Africa, and is one of the countries looking keenly into governing the digital asset space, an executive director with the country’s securities regulator has said. The director also made clarifications on the different regulatory roles played by the central bank and the Nigerian Securities and Exchange Commission (SEC). Protecting Investors According to the executive director of Nigeria’s securities regulator, Dayo Obisan, his country is “leading in Africa in terms of making the rules and regulating into the....