THELOGICALINDIAN - The Nigerian balance regulator has appear new rules that administer the arising of agenda assets The new rules additionally accommodate allotment requirements for platforms that action agenda assets
Initial Assessment Filing
The Nigerian Balance and Exchange Agency (SEC) has appear new rules that administer the arising of agenda assets as securities. The regulations additionally accommodate rules on the allotment requirements for agenda assets alms platforms (DAOPs). Virtual asset account providers (VASPs) and agenda assets exchanges are covered in the new set of rules that were afresh appear by the commission.
According to the new regulations, individuals or entities gluttonous to accession funds via a bread alms or a clandestine auction of tokens charge aboriginal abide an antecedent “assessment anatomy and the abstract white paper.” In the abstract white paper, the agency says an article gluttonous permission to accomplish charge accouter it with “complete and accepted advice apropos the antecedent agenda asset alms projects, business plan and achievability study.”
The abstract certificate charge additionally accord a abrupt description of the antecedent agenda asset offering, the amount of anniversary token, and the privileges it gives to the buyer. The use and allocation of the funds charge additionally be declared therein, the SEC said.
White Paper Disclaimer
Concerning white affidavit of antecedent agenda asset alms projects, the agency said the certificate should accept a abnegation advertence this does not represent an action to sell. Once the appropriate affidavit has been filed, the SEC will analysis it to accomplish a determination.
After a assurance is made, the SEC will acquaint this to the issuer aural bristles canicule of the cessation of the review.
Besides answer the accomplish -to-be issuers of agenda currencies charge take, the agency additionally lists the requirements and banned that charge be adhered to. For an appellant gluttonous to annals as a DAOP, the new rules say they charge pay a filing fee agnate to $241, a processing fee of $724, and a allotment fee of $72,430.
Elsewhere in its 54-page new rules document, the agency says a DAOP “shall advance a annals of antecedent badge holders who subscribed for the basic assets/digital tokens during the action aeon and access into the register.” On application addition belvedere as a host, the SEC said an “Issuer shall not be hosted accordingly on assorted DAOP or on an disinterestedness crowdfunding platform.”
What are your thoughts on this story? Tell us what you anticipate in the comments area below.
Image Credits: Shutterstock, Pixabay, Wiki Commons
