The Nigerian Securities and Exchange Commission tightens cryptocurrency marketing rules

ChainCatcher news, according to Cointelegraph, the Nigerian Securities and Exchange Commission has updated its crypto regulations, adding requirements for virtual asset service providers (VASP) and social media influencers regarding crypto-related marketing promotions.

In the revised digital asset rules, the regulator stated that VASPs promoting their crypto products in collaboration with third-party service providers must "obtain prior approval from the commission." The rules also require VASPs to ensure that third-party providers comply with the marketing rules set by the SEC. These rules apply to any VASP providing services to residents of the country and are set to take effect on June 30, 2025.