By Staff Writer, Lusaka
The Securities and Exchange Commission (SEC) says it does not regulate digital currencies unless they meet the definition of a security as defined by the Securities Act.
And SEC Chief Executive Officer Mr. Phillip Chitalu cautions those that
are operating any systems and platforms within Zambia that effect or facilitate cryptocurrencies to ensure that they
are not in any way abrogating any part of the Securities Act No. 41 of 2016.
Mr Chitalu has since urged investors, both current and potential, to observe extreme caution when dealing with self-proclaimed cryptocurrency educators, trainers and advisors whose numbers are rapidly increasing in Zambia.
Mr Chitalu added that the credibility and accurateness of teachings and advice from
self-proclaimed cryptocurrency educators, trainers and advisors are unverified.
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