According to Odaily, the Director of the Nigerian Securities and Exchange Commission (SEC), Momotimi Agama, has stated that the agency maintains a cautiously open stance towards Bitcoin regulation and is willing to actively explore relevant frameworks. This openness aims to integrate cryptocurrencies into Nigeria's financial system. Agama emphasized that the SEC remains primarily focused on investor protection and maintaining market integrity, ensuring that any regulatory measures align with these objectives. The regulatory body is committed to enhancing public understanding of cryptocurrency trading, digital asset transactions, and related activities, providing guidance on proper digital asset trading practices. Additionally, the SEC has indicated that it will take stringent actions against companies or individuals who fail to comply with regulations. (BeInCrypto) Yesterday, Nigerian Bitcoin advocate James Utudor filed a lawsuit against the government's restrictions on digital asset ownership, usage, and trading, seeking to lift the ban on cryptocurrency exchanges and ensure unrestricted access for Nigerians. Utudor argued that this move is intended to protect the fundamental rights of Nigerians, as cryptocurrencies serve as crucial tools for combating inflation and facilitating international transactions. The lawsuit also requests the court to affirm the rights of Bitcoin and USDT holders and to recognize Bitcoin as a commodity. The Central Bank of Nigeria, the Securities and Exchange Commission, and other institutions have been named as defendants in the case.