🚀 Nigeria's SEC is tightening the crypto reins with new rules for VASPs and "Finfluencers."

- VASPs must get SEC approval before using third-party promoters.

- Influencers need a "no-objection authorization" and must confirm if the promoted company is SEC-licensed.

- Disclose paid promotions or face fines up to ₦10M or 3 years in jail.

Only two exchanges, Quidax and Busha, are currently regulated. The SEC plans to crack down on unregulated crypto activities. Looks like Nigeria's crypto scene is getting a regulatory makeover!