Nigeria’s Securities and Exchange Commission (SEC) has revealed that talks with the Central Bank of Nigeria (CBN) regarding the regulation of cryptocurrencies are ongoing. The securities regulator also reiterated that due to a CBN directive that was issued on February 7, 2021, the crypto guidelines it issued in September 2020 remain suspended.

Crypto Guidelines Set Aside

However, the regulator promises that at the conclusion of its engagements with the CBN, stakeholders will be informed of the outcome. Meanwhile, in his comments that were made during a Q1 Capital Market Committee (CMC) virtual conference, Lamido Yuguda, the director-general of SEC, tries to justify the regulator’s decision to suspend its own guidelines. He said:

Because of the lack of access to commercial bank accounts, we had to suspend our own guidelines of September 2020, the implementation of that circular is suspended until these operators are able to have access to…

Click to continue reading on its source location…

Source: https://news.bitcoin.com/nigerias-sec-in-talks-with-central-bank-of-nigeria-over-crypto-regulation-2020-crypto-guidelines-still-suspended/