Nigeria's SEC is taking proactive steps to license issuers of virtual assets, demonstrating a commitment to regulating the surging demand for cryptocurrencies in the nation.
The market size is huge and it is growing, indicating that Nigeria's regulatory efforts are aligning with global trends in the cryptocurrency space.
By September, Nigeria aims to introduce a bill to facilitate the taxation of cryptocurrencies, illustrating the government's intention to regulate and benefit from the crypto market.
The SEC's actions reflect a broader global movement, as countries like South Africa and France also implement regulatory frameworks to manage cryptocurrency compliance and operations.
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