According to TechFlow, on October 10, according to Bitcoin.comNews, the Nigerian Securities and Exchange Commission (SEC) recently stated that it will step up efforts to combat fraud, money laundering and market manipulation in the cryptocurrency industry. SEC Director General Emomotimi Agama spoke at the World Investor Week of the International Organization of Securities Commissions, emphasizing the importance of investor education and the regulator's determination to strictly enforce the law against illegal crypto platforms.
“As financial products become increasingly sophisticated and technology-driven, from fintech innovation to cryptocurrency trading, it is critical and responsible that stakeholders commit to equipping investors with the knowledge to navigate these markets with confidence and responsibly,” Agama noted. His remarks came months after he warned Nigerian citizens against using unlicensed crypto exchanges.