Nigeria's Finance Minister Wale Edun has called for cryptocurrency regulation as he addresses the new SEC board. Edun highlighted the complexity and rapid development of the cryptocurrency sector, which requires strict controls to maintain the integrity of the Nigerian capital market. 📉

He warned about the possibility of abuses in the cryptocurrency space and called for the implementation of corporate governance practices. “You also have to be wary of regulatory arbitrage,” Edun warned.

Despite the SEC's update to digital asset regulation, Edun believes the changes are not enough. He emphasized the need to be informed and proactive given the development of digital currency, artificial intelligence and digital transitions.