Re-exposure of Amendments to Rules on Digital Assets Issuance, Offering Platforms, Exchange and Custody
16/12/2024
The revised Digital Assets (DA) Rules now covers new virtual assets activities and business models such as:
- Crosschain transfer services
- On/off-chain transmission of orders
- placing and distribution of virtual assets;
- Advisory on virtual assets investment; and
- Financial portfolio management on virtual assets;
key Introductions in the Revised Rules include Requirements for:
- Issuers and issuance of digital securities, stablecoins, cryptocurrencies, and anonymity-enhanced cryptocurrencies (prohibited in Nigeria).
- Advertisement, Marketing and Promotion (particularly social media Finfluencers)
- New registrable functions (e.g. Digital Assets Intermediary)
- Accelerated Regulatory Incubation Program (ARIP)
- Financials, etc.
All comments and input should be forwarded to the Secretariat, Rules Committee via rulescommittee@sec.gov.ng or through the DG SEC not later than two weeks from the date of this publication