**Nigerian Stakeholders Push for Clear Crypto Regulations**
Nigerian stakeholders are urging the Nigerian Securities and Exchange Commission (SEC) to classify Bitcoin and Ether as commodities, following a recent Illinois court ruling. Lucky Uwakwe, chairman of the Blockchain Industry Coordinating Committee of Nigeria (BICCoN), emphasized the need for clear guidelines to define crypto asset classes.
Oladotun Wilfred Akangbe from Flincap highlighted the importance of distinct regulatory approaches for Bitcoin and Ethereum. He suggested the SEC should focus on cryptocurrencies as fundraising tools, like ICOs. Another analyst, Rume Ophi, advocated for individual scrutiny of each cryptocurrency to determine its classification.
These recommendations aim to provide clarity and stability in Nigeria's digital asset market, fostering innovation while ensuring compliance.