The Nigerian Securities and Exchange Commission (SEC) has issued a 30-day deadline for cryptocurrency firms to re-register under a new regulatory regime or face enforcement actions. The SEC values the local cryptocurrency industry at $400 million and highlights the potential of cryptocurrencies to aid the 38 million unbanked citizens in Nigeria. The head of Nigeria's SEC praised crypto for its ability to extend financial services to the unbanked population, noting that approximately 33.4% of Nigerians own or use cryptocurrencies.
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Nigerian SEC boss highlighted ~ 33.4% of Nigerians own or use cryptocurrencies -> opportunity to extend financial services to 38+ million unbanked adults https://t.co/yO1gXQDgQO
[COINTELEGRAPH] Nigeria’s SEC boss says crypto can aid 38M unbanked
Nigeria's Securities and Exchange Commission evaluates the local cryptocurrency industry's value at $400 million. Exchanges and traders are required to re-register within the next 30 days.
Nigeria SEC Values Local Crypto Industry at $400 Million ► https://t.co/ZAEZqIAQdQ https://t.co/ZAEZqIAQdQ
🚨JUST IN: HEAD OF NIGERIA'S SEC PRAISES CRYPTO - SAYS IT CAN HELP 38M UNBANKED CITIZENS - "SOME PEOPLE DON'T HAVE BANK ACCOUNTS, BUT THEY HAVE WALLETS"
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ICYMI: Nigeria issues 30-day deadline for crypto firms to re-register under new regime Read the full article 👇 https://t.co/3nQhl1dH9X https://t.co/sWDwmrzmKV
Nigeria SEC Gives Crypto Firms 30 Days to Register—Or Face Enforcement Action ► https://t.co/Utc6GE4NM6 https://t.co/Utc6GE4NM6