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The Nigerian Securities and Exchange Commission (SEC) is being urged to classify Bitcoin and Ether as commodities to establish a clear regulatory framework. This comes as the Nigerian SEC mandates crypto firms to open local offices for participation in a regulatory sandbox. Experts are advising Nigeria to regulate Bitcoin and Ether as commodities, following recommendations from the Financial Action Task Force (FATF) to establish virtual asset sector regulatory frameworks. Lucky Uwakwe, chairman of the Blockchain Industry Coordinating Committee of Nigeria (BICCoN), emphasized the need for specific guidelines for these digital assets, following an Illinois court ruling.
Nigeria's Securities and Exchange Commission has been encouraged to classify Bitcoin and Ether as commodities in order to establish a tailored regulatory framework. #Nigeria #Bitcoin #Ether #regulation
Crypto Regulation Around The World: Nigerian SEC Urged To Treat BTC and ETH as Commodities Nigerian stakeholders are urging the SEC to classify Bitcoin and Ether as commodities, following an Illinois court ruling. Lucky Uwakwe, chairman of BICCoN, emphasized the need for clear… https://t.co/SaNh5kp1Gs
FATF Recommends Establishing Virtual Asset Sector Regulatory Frameworks https://t.co/MgRHuAO0jE
