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Nigerian SEC official: New rules covering crypto exchanges, digital asset custodians will be introduced in the coming days

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2024-05-07 08:40:00
Nigeria has vowed to ban person-to-person cryptocurrency trading in naira denominations, taking the latest steps to rein in an industry blamed by the West African nation for harming the battered local currency unit. Emomotimi Agama, Director General of the Nigerian Securities and Exchange Commission (SEC), said in a meeting with fintech professionals on Monday that new rules covering cryptocurrency exchanges, digital asset custodians and other areas of the industry would be introduced in the coming days. What needs to be done is to remove naira from the P2P space to avoid the manipulation that is currently taking place.
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