The Nigerian Securities and Exchange Commission (SEC) is set to engage with foreign exchanges as part of efforts to regulate the growing cryptocurrency market. This development comes in the midst of regulatory challenges faced by the Nigerian government in overseeing the crypto industry within the country. A spokesperson for the Nigerian SEC emphasized the importance of this meeting as a crucial step towards better understanding and regulating the crypto market in Nigeria.

Nigerian SEC’s Move Towards Crypto Regulation

The Nigerian SEC is taking steps to regulate the expanding cryptocurrency market by planning to meet with foreign exchanges. This decision is made amidst the ongoing regulatory challenges in Nigeria as the government aims to assume control over the flourishing crypto market. Through this meeting, the SEC hopes to gain insights into how other countries are managing their crypto markets, potentially influencing the future of crypto regulation.