SEC assures of adequate regulation to grow digital assets industry

The Securities and Exchange Commission has assured stakeholders in the Digital Assets space that it is ready to provide the necessary guidance that will grow the industry, create wealth for Nigerians and lead to economic growth and development.

Director General of the SEC, Dr. Emomotimi Agama who stated this in Lagos weekend, said the Commission is willing to be patient in ensuring that the majority of interested participants are carried along.

“We need to be patient in getting everybody on board to be able to provide the guidance that is needed for us to grow this industry, we need to grow this industry together. 

“Over 80 percent of our population are interested in this area and that is why the government is showing so much interest too.  And if the government is interested in it, the government has a responsibility to protect the investors that will come into it.

Agama said due to the developmental role of the Commission, the SEC will develop the market while also ensuring that investors are protected adding that the Commission is stepping up its investor education mechanism to ensure that investors get the information they require to make informed investment decisions.

He said the SEC Nigeria’s Approach to Digital Asset Regulation recognises the potential of blockchain and digital assets to revolutionize the capital markets and that is why the Commission has introduced several measures to ensure that these innovations are harnessed responsibly.

However, beyond the obvious economic benefits, the SEC Boss said blockchain can drive significant social change, address difficult social issues, improve user experience and settlement speed and aid in financial inclusion and encourage creativity and innovation among others.

The SEC DG said blockchain enables real-time transactions and settlements, reducing the time and costs associated with traditional financial services. This can lead to a more efficient and inclusive financial ecosystem, benefiting both individuals and businesses.