The Securities and Exchange Commission (SEC), Nigeria has said it will regulate crypto-token or crypto-coin investments when the character of the investments qualifies as securities transactions.

The apex regulator of the Nigerian capital market, said that any individual or corporate whose activities are blockchain-related and virtual digital assets must be registered with SEC and will be subject to the commission’s guidelines.

SEC, who regulates investments and securities business in Nigeria stated that virtual crypto assets are securities unless proven otherwise by the issuer or the sponsor...


Read full article at https://investogist.com/sec-to-regulate-crypto-assets-and-blockchain-related-activities-in-nigeria/

What's the implication of this?

ebuks4ever:
What's the implication of this?

SEC can take legal action against individuals or corporate who do not follow its guidelines on Cryto-assets or blockchain related activities.