The head of the Securities and Investment Services Division of the Nigerian Securities and Exchange Commission (SEC), Abdulkadir Abbas, said that the agency still does not support the promotion and use of cryptocurrencies by the public as a means of payment or investment.
However, the regulator is ready to consider the possibility of circulation on the digital exchanges of the country of tokenized assets, the liquidity of which is provided by real financial assets.
“The SEC is considering allowing offerings on licensed digital exchanges of tokenized coins backed by real assets, including stocks, debentures, and properties. We like to start with a very simple and clear proposition before moving on to complex and vague ones like cryptocurrencies,” Abbas said.
In his opinion, this step will allow citizens of Nigeria interested in digital technologies not only to use advanced technologies, but also to develop the country’s economy through indirect investment in national financial instruments.
Earlier, the Chairman of the Capital Markets Committee of the House of Representatives of Nigeria, Ibrahim Babangida, said that the country intends to recognize cryptocurrencies as an investment object in the new bill.
Source: Bits
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