ChainCatcher message, according to Cointelegraph, the Nigerian Securities and Exchange Commission has updated its cryptocurrency regulations, adding requirements for virtual asset service providers (VASP) and social media influencers regarding cryptocurrency-related marketing promotions.

In the revised digital asset regulations, the regulator stated that VASPs promoting their cryptocurrency products in collaboration with third-party service providers must "obtain the Commission's approval in advance." The rule also requires VASPs to ensure that third-party providers comply with the marketing rules set by the SEC. This rule applies to any VASP providing services to residents of the country and is set to take effect on June 30, 2025.