Why we’re regulating digital assets – SEC

The Securities and Exchange Commission (SEC) has said digital assets, classification and treatment will boost investors’ protection in the capital market.

Emomotimi Agama, SEC’s Head of Registration, Exchange, Market Infrastructure and Innovation, while speaking on the guidelines in an interview said, “The first thing the SEC bothers about is investor protection.

“This is no different from what we have been doing. We are looking at investor protection, integrity, transparency and of course we want to make sure that the market is safe and everyone is comfortable with what is going on in the investment climate.”

Agama noted that last year the commission launched the Fintech Road Map and that after it was done, it went ahead to set up the block chain virtual financial assets committee.

“People are happy with what we are doing – being able to provide some clarity as to where we stand in terms of digital assets regulation. Our idea is not to stifle innovation, but to promote innovation within a reasonable space.”