The Securities and Stock Exchange Committee of Nigeria (SEC) has expressed its support for Stablecoin companies that operate within the borders of the country’s digital asset regulations.
During the Nigeria Summit, which was held in Lagos, SEC EMOMOMI AGAMA He said The African country is ready to embrace Blockchain -based payment innovations as long as it complies with the current laws.
He highlighted the increasing importance of Stablecoins in the digital economy in Africa, as the volatile local currencies have pushed many towards dollars -backed assets for stability.
AGAMA described the digital scene in Nigeria as “increasingly dynamic, young and non -central”, noting how Stablecoins became an integral part of daily transactions.
Looking at this, the head of the financial organization said:
“I stand before you as an organizer and defender of responsible innovation. My message today is clear: Nigeria is open to Stablecoin, but on conditions that protect our markets and the Nigerians are able.”
Nigeria is classified as one of The best countries to adopt encryption worldwide. According to data from seriesThe country is ranked second in the world, driven by practical use of digital currencies for transfers, trade and border payments.
For many, such as stablecoins USDT and USDC It has filled a critical gap left by unreliable access to foreign currency and high inflation.
Commenting on the new SEC position, Nathaniel Luz, the head of the Africa Network, told Stablecoin, Cryptoslate The advertisement provides the clarity that has been required for a long time in the emerging industry.
According to him:
“It is a square connection in a square hole. It is the correct support for the industry at this stage.
Meanwhile, this transformation follows Nigeria’s campaign against encryption companies last year, which included the arrest of Binance Executive Tigran Gambaryan.
Since then, the authorities have moved towards Organized organizationIncluding exploring a A tax frame for encryption transactions To support national revenue efforts.
