The Director General of the Securities and Exchange Commission, Mr. Lamido Yuguda, has said that the Executive Management the Commission will continue to create awareness, imparting knowledge and engendering public participation on issues relating to fintech, sustainable finance, financial inclusion and non-interest finance.
Yuguda said the SEC recognises the disruption of fintech in the financial industry and aims to create an enabling regulatory environment that would ensure a balance between investor protection and technological advancement.
The DG who spoke during an interview recently stated that the SEC will advance efforts towards developing a comprehensive regulatory framework that ensures that operators in the digital asset space conduct their activities in a manner that protects investors and maintains financial system stability.
He stated that to develop an appropriate regulatory framework for fintech, regulators need to understand the digital asset space to be better positioned to address identified risks.
According to Yuguda, the SEC’s approach is consistent with the approaches of several securities regulators around the world as in the United States of America, the US SEC requires platforms that offer to trade in digital asset securities and operate as exchanges to register or seek to be exempted from registration.
