Nigerian regulators pledge to combat cryptocurrency fraud and other activities

ChainCatcher news, according to Bitcoin.com, the Nigerian Securities and Exchange Commission (SEC) has pledged to combat fraud, money laundering, and market manipulation in the cryptocurrency industry. SEC Director General Emomotimi Agama emphasized the importance of enhancing investor education to help the public steer clear of unlicensed crypto exchanges and illegal platforms.

In addition, Nigeria has approved the first batch of digital asset exchanges and revised the relevant rules for Virtual Asset Service Providers (VASPs). Lagos State Governor Babajide Sanwo-Olu also supports this initiative, highlighting the importance of regulation in ensuring the safety of the crypto market and protecting investors.