ChainCatcher reported that Emomotimi Agama, director general of the Nigerian Securities and Exchange Commission (SEC), said the regulator plans to issue the first batch of digital service and tokenized asset licenses this month.

Agama said in an interview with Bloomberg TV: "As a cryptocurrency enthusiast and fintech enthusiast, I can tell you without a doubt that this will happen faster than you think. We must support the young people of this country so that they can benefit from fintech. The market is huge and it is still growing."

Earlier, Nigeria's tax regulator, the Federal Inland Revenue Service (FIRS), plans to submit a bill to the parliament in September to tax the cryptocurrency industry.