Nigeria Securities Exchange Commission tightens cryptocurrency marketing rules
On December 19, the Nigerian Securities and Exchange Commission (SEC) updated its cryptocurrency regulations, increasing requirements for Virtual Asset Service Providers (VASPs) and social media influencers' cryptocurrency-related marketing promotions. In its revised digital asset rules, the SEC stated that VASPs hiring third-party service providers to promote their crypto products must "obtain approval from the commission in advance." The rules also require VASPs to ensure that third-party providers comply with marketing rules set by the SEC. These rules apply to any VASP providing services to residents of the country and are planned to take effect on June 30, 2025.
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