Nigeria's regulator has issued new crypto rules, reversing a previous ban.

Nigerian Securities and Exchange Commission releases rules on digital currencies . SEC says no digital assets exchange would be allowed to facilitate transactions in digital currencies .

The Nigerian Securities and Exchange Commission (SEC) released a set of rules on digital currencies on its website, indicating that Africa's most populous nation is attempting to find a balance between an absolute prohibition on crypto assets and their unregulated use.Nigerias central bank banned banks and financial institutions from offering or facilitating transactions in digital currencies last year, but a central bank spokesperson declined to speak to his phone.The SEC said that no digital assets exchange would be allowed to facilitate transactions Official digital currencies, unlike cryptocurrencies such as bitcoin, are backed and controlled by the central bank.)