Recall that on 14 September 2020 the Securities and Exchange Commission “SEC” released a Statement on Digital Assets and their Classification and Treatment to regulate crypto-token or crypto-coin investments detailed in our article NIGERIAN SEC REGULATES DIGITAL ASSETS – TONBOFA Law Practice. In furtherance of this mandate SEC had in April 2022 released its Proposed Rules on the Registration of Virtual Asset Service Providers; and the Proposed Rules on the Issuance, Offering Platforms and Custody of Digital Assets, and has more recently released the New Rules on Issuance, Offering Platforms and Custody of Digital Assets “New Rules” which this Article seeks to summarise.  Click here for the full article

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