Regulator in Nigeria Commits to Tackling Crypto Fraud
The Nigerian Securities and Exchange Commission (SEC) has pledged to crack down on fraud, money laundering, and market manipulation in the crypto sector.
SEC Director General Emomotimi Agama stressed the need for investor education to combat scams and announced strict enforcement against illegal crypto platforms. This comes after Nigeria introduced a regulatory framework for crypto entities, with amendments expanding oversight and launching programs to support legal platforms.
Lagos State Governor Babajide Sanwo-Olu also voiced support for regulating the sector, acknowledging both the potential of cryptocurrencies and the need for investor protection.
Clever Robot News Desk 11th October 2024
