The Nigerian Securities and Exchange Commission (SEC) has updated its cryptocurrency rules, adding requirements for crypto-related marketing promotions for virtual asset service providers (VASPs) and social media influencers.

The new rules require VASPs to obtain approval from the Commission before using third-party service providers to promote crypto products. These service providers are also required to comply with marketing rules set by the SEC.

These rules will apply to all VASPs offering services to residents of the country and will come into effect on June 30, 2025.

Social media influencers must obtain a “non-objection clearance” from the SEC before posting crypto ads. They must also verify that the company they are promoting is licensed by the SEC.

What do you think about these developments? Let’s discuss in the comments.