Nigerian SEC Set To Meet With Foreign Crypto Exchanges Amid Regulatory Crackdown: Report
A Friday report from CoinTelegraph reveals that the Nigerian Securities and Exchange Commission (SEC) will meet with crypto exchanges to discuss the state of crypto regulation in the African nation. The country has detained two Binance executives charged with money laundering and tax evasion.
According to CoinTelegraph’s interview with Lucky Uwakwe, Chair of Nigeria’s Blockchain Industry Coordinating Committee (BICCoN), the upcoming meeting between the Nigerian SEC and crypto exchanges will primarily focus on addressing regulatory concerns within the country’s cryptocurrency sector.
Spearheaded by Emomotimi Agama, the newly appointed Nigerian SEC Director General, the meeting will take place on May 6 and is open to key players in Nigeria’s crypto industry, including virtual asset service providers (VASPS), wallet providers, and crypto exchange platforms.
NIGERIAN SEC TO MEET WITH FOREIGN EXCHANGES AMID ONGOING REGULATORY BATTLE
– Emomotimi Agama, the new Director General of the Nigerian SEC, will meet with both local and foreign crypto CEXs at a roundtable event on May 6th.
– The event is being organized by The Blockchain… https://t.co/weRyfXPUje pic.twitter.com/K5xOoDqSeq
— BSCN (@BSCNews) May 3, 2024
“Everyone’s presence and insights are invaluable as we collectively navigate the regulatory terrain and strive toward fostering an environment conducive to innovation and growth within the blockchain and cryptocurrency sector,” Uwakwe told CoinTelegraph.
News of the meeting comes during troubling economic times for the country, particularly concerning cryptocurrencies.
In February, Nigeria’s government reportedly banned its citizens’ access to several crypto exchanges, effectively accusing Binance of fixing the rate of the
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