Nigeria's SEC to Enforce Actions Against Unregulated Crypto Operators, New Rules Incoming

Sep 9, 2024, 10:39 AM

The Securities and Exchange Commission (SEC) of Nigeria has announced plans to initiate enforcement actions against unregulated cryptocurrency operators. The Director-General, Emomotimi Agama, emphasized that the new regulations aim to protect investors and promote innovation in the rapidly growing crypto sector. The SEC's efforts will target both businesses and individuals operating without proper licenses. This move follows the recent licensing of Busha Digital and Quidax Technologies, marking a significant step towards a regulated crypto market in Nigeria. New rules for crypto exchanges are incoming.