In my days of innocence, I went on a business call with a female colleague to a shop in Shoprite Lagos.
Bored, I did some window shopping, I saw these ladies shoes, all with just the left pair, I picked it up, there was "323" written on a sticker on sole.
I reasoned "was it N32, 300.00? Or left shoe alone
Curious, i asked the shop attention? "How much are these shoes? They look too nice for N32k"
The shop owner looked over at me, in my nice suit and said, "its actually N323,000 a pair"
Three Hundred and Twenty Three Thousand!!
Wait what?
N323,000 how?
My perplexed expression was so innocent, so she explained.
"They are Louboutins..see the red soles.."
I was still not inhaling properly, back then i think Nestlé stock was like N500 a share, I was calculating...
Well what is risk? Risk is the chance you may not achieve your investment objective, in financial lingo its called Volatility of returns .
So "risky" means more volatility of returns, lower risk means lower volatility of returns, higher risk means higher volatility of returns. So higher risk translates to a greater propensity for higher returns NOT a guarantee of higher returns.
Similarly lower risk translates to a lower propensity for volatility NOT a guarantee of zero volatility.
"The position of the Commission is that virtual crypto assets are securities, unless proven otherwise."
This means Cryptocurrencies are now regulated by SEC..
You need SEC approval to sell them
"Thus, the burden of proving that the crypto assets proposed to be offered are not securities is placed on the issuer or sponsor of the said assets."
If you are selling anything even remotely resembles a digital currency, SEC regulates you, you have to prove its NOT Crypto.
"Issuers or sponsors are expected to satisfy the burden of proving that the virtual assets do not constitute securities by making an initial assessment filing."
To sell cryptocurrencies, you have to file an assessment