The Nigerian SEC will take action against individuals and cryptocurrency exchanges that do not comply with the regulatory framework

ChainCatcher news, the Nigerian Securities and Exchange Commission (SEC) will take action against individuals and cryptocurrency exchanges that do not comply with the regulatory framework.

SEC Director General Emomotimi Agama announced this move on Sunday, promising to protect investors' interests. Two weeks ago, the SEC temporarily approved two digital asset exchanges, Busha and Quidax, to operate under an accelerated regulatory incubation program. The SEC warned that many unapproved crypto trading platforms are operating, and any entity unwilling to be regulated will face enforcement actions.