Nigeria equates all crypto assets to securities The Nigeria Securities and Exchange Commission issued a notice stating that all existing crypto assets will now be treated as securities.

In Nigeria, all crypto assets were equated to securities

Commission on valuable securities and exchanges Nigeria Issues Notice That All Existing Crypto Assets Will Now Be Treated As Securities.

As the regulator explains, cryptoassets provide alternative investment opportunities and are subject to the same requirements that apply to stock exchanges and their transactions. If the issuer wishes to avoid such a classification of its instruments, it must submit an appropriate request based on which will checked.

“The position of the Commission is that virtual crypto assets are securities, unless proven otherwise. The task is to prove that the proposed crypto asset is not a security and, therefore, is not falls under the jurisdiction of the department lies with the issuer or sponsor of the specified asset, "the document says.

The department clarified that all persons offering securities in the form of digital assets on the territory of the country, as well as the citizens and companies participating in such offers, must comply with the requirements of the current legislation.

Digital assets that will be removed from the definition of a security will receive the status of an exchange commodity and will no longer be of interest to the regulator. He argues that the goal of the new requirements is not to stifle innovation, but to create a fair and efficient market..

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