Nigeria’s SEC advised to regulate Bitcoin, Ether as commodities. By treating Bitcoin and Ether as commodities, Nigerian regulators can establish a more tailored regulatory framework that reflects the unique characteristics of these digital assets. In light of a recent court ruling in Illinois that classified Bitcoin and Ether as commodities, Nigerian stakeholders are urging the Nigerian Securities and Exchange Commission (SEC) to adopt a similar approach in its regulatory framework. The call for clarity and proper classification comes as cryptocurrencies play an increasingly significant role in the global financial landscape.
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