The Securities and Exchange Commission (SEC) of Nigeria will start regulating trade in digital currencies to ensure higher investor protections, they stated on Monday. In 2018, the Central Bank of Nigeria said that crypto such as Bitcoin (BTC), Litecoin (LTC), Ripple (XRP), and Monero (XMR) weren't considered money. The SEC of Nigeria refers to them as "exchangeable securities."

Bitcoin Exchange Guide (Sept 15, 2020)