Close Menu
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Market Cap
  • Blockchain
  • Web 3
    • NFT
    • Metaverse
  • Regulation
  • Analysis
  • Learn
  • Blog
  • Contact
    • Tech7685@gmail.com
What's Hot

Cdari works together with Laika Ai to strengthen blockchain -intelligence about chains

2025-05-19

Sec -retreats decision on Bitwise, 21Shares Solana ETF applications, Opens Public Consultation

2025-05-19

Coinbase confirms Doj research after a major security incident

2025-05-19
Facebook X (Twitter) Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • Free.cc (Free Crypto)
Facebook X (Twitter) Instagram
Bitcoin Platform – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Market Cap
  • Blockchain

    Cdari works together with Laika Ai to strengthen blockchain -intelligence about chains

    2025-05-19

    Vitaminai and Blocx partner to stimulate security and productivity by bridging Web2 and Web3

    2025-05-19

    Sentismai integrates Kyberswap for seamless EVM -Kettingwaps

    2025-05-19

    Alchemie acquires Solana developer Dexterlab for unknown sum

    2025-05-19

    Interlink and Blazpay Partner to improve the user experience in Web3 with AI

    2025-05-19
  • Web 3
    • NFT
    • Metaverse
  • Regulation

    Sec -retreats decision on Bitwise, 21Shares Solana ETF applications, Opens Public Consultation

    2025-05-19

    Authorities claim that scammers have stolen $ 265,000,000 in crypto to buy exotic cars, private security and other luxury

    2025-05-19

    SEC chairman Atkins confirms the end of hard crypto enforcement, proposes a uniform framework

    2025-05-19

    Trump administration to beat bank rules designed to prevent collapse in 2008 style: report

    2025-05-19

    Mastermind Behind Sec Sim -exchange schedule sentenced to 14 months in prison for manipulating Bitcoin price

    2025-05-18
  • Analysis

    BlackRock’s Buidl to Power Bouncebit’s new RWA Yield Strategy Platform

    2025-05-19

    XRP -Price confirms Bullish reversing settings with this demand zone

    2025-05-19

    Finish Bitcoin price inches in the direction of all time-can Momentum?

    2025-05-19

    Ethereum – price cannot break through – what does it stop?

    2025-05-19

    Dogecoin (Doge) is struggling to support profit while Meme Coin cools Mania

    2025-05-19
  • Learn

    Types of Blockchain Layers Explained: Layer 0, Layer 1, Layer 2 and Layer 3

    2025-05-16

    Token vs. Coin: Key Differences You Must Know as a Beginner

    2025-05-15

    Inside Changelly: 10 years of steadfast support and compliance

    2025-05-15

    What Is Proof-of-Work (PoW)?

    2025-05-12

    What Is Proof-of-Authority (PoA)?

    2025-05-09
  • Blog
  • Contact
    • Tech7685@gmail.com
Bitcoin Platform – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
Home»Regulation»Nigeria’s SEC warns influencers of a new three-year prison sentence for promoting ‘unlicensed’ crypto
Nigeria's SEC warns influencers of a new three-year prison sentence for promoting 'unlicensed' crypto
Regulation

Nigeria’s SEC warns influencers of a new three-year prison sentence for promoting ‘unlicensed’ crypto

2024-12-18No Comments2 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

The Nigerian Securities and Exchange Commission (SEC) has introduced stricter regulations targeting influencers who promote crypto-related products without transparency.

Under the updated framework, influencers must ensure that their crypto clients are licensed by the SEC before endorsing any product or service.

Additionally, all promotional content must be clearly labeled as sponsored. Failure to comply will result in severe penalties, including a fine of at least 10 million Naira (approximately $7,000), imprisonment for up to three years, or both.

Influencers should also use simple language in their promotions. The SEC warns against using technical jargon, ambiguous terms, or exaggerated promises such as “double your income now” or “secure your future.”

The SEC continued that promotional materials should avoid claims that could mislead or confuse potential investors. In addition, all advertisements must receive the prior approval of the Commission before publication.

The Commission explained that this move responds to growing concerns about financial influencers promoting unauthorized investments in digital assets. The regulations cover all communication platforms, including social media, television, radio and USSD channels.

The SEC stated that it will actively monitor online promotions and prosecute violators who violate these guidelines.

It is striking that the move by the Nigerian SEC is in line with global trends. For example, the United Kingdom’s Financial Conduct Authority (FCA) introduced similar measures in 2023, requiring crypto promotions to meet regulatory standards. Similarly, France requires influencers to complete certifications in responsible financial advertising before promoting crypto products.

Overhaul of crypto regulation

In addition to regulations on influencers, the SEC has tightened supervision of Virtual Asset Service Providers (VASPs) operating in Nigeria.

See also  VanEck wants to be the first ETH ETF issuer and argues against simultaneous approvals

These companies must now register with the SEC and adhere to strict governance, financial and reporting standards. They must also submit regular trading data, compliance reports and audited financial statements.

The SEC also prohibits issuing or promoting cryptocurrencies that enhance anonymity.

These updated regulations will come into effect in June 2025, signaling a significant shift towards greater transparency and investor protection in the country’s crypto ecosystem.

Source link

Crypto influencers Nigerias Prison promoting SEC sentence threeyear unlicensed warns
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Sec -retreats decision on Bitwise, 21Shares Solana ETF applications, Opens Public Consultation

2025-05-19

Authorities claim that scammers have stolen $ 265,000,000 in crypto to buy exotic cars, private security and other luxury

2025-05-19

SEC chairman Atkins confirms the end of hard crypto enforcement, proposes a uniform framework

2025-05-19

Trump administration to beat bank rules designed to prevent collapse in 2008 style: report

2025-05-19
Add A Comment

Comments are closed.

Top Posts

Native Bitcoin is available on DeFi for the first time, details here

2023-11-17

ChromaWay joins the Amazon Web Services Partner Network

2024-07-07

Price increase of 22% in seven days, network activity skyrockets by 350%

2023-10-27
Editors Picks

Sui crypto price prediction: what is the next one as a price remains between $ 2- $ 3?

2025-04-18

Ex-Alameda CEO Sam Trabucco agrees to forfeit two condos, yacht and $70,000,000 in claim rights: report

2024-11-12

Zora launches its own Layer 2 chain: Zora Network

2023-06-21

MicroStrategy increases Bitcoin positions as BTC closes to $26,000

2023-09-25

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, Defi, NFT, Metaverse and more.

We're social. Connect with us:

Facebook X (Twitter) Instagram Pinterest YouTube
Top Insights

Cdari works together with Laika Ai to strengthen blockchain -intelligence about chains

Sec -retreats decision on Bitwise, 21Shares Solana ETF applications, Opens Public Consultation

Coinbase confirms Doj research after a major security incident

Get Informed

Subscribe to Updates

Get the latest news and Update from Bitcoin Platform about Crypto, Metaverse, NFT and more.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • Free.cc (Free Crypto)
© 2025 Bitcoinplatform.com - All rights reserved.

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$106,146.151.08%
  • ethereumEthereum(ETH)$2,531.704.18%
  • tetherTether USDt(USDT)$1.00-0.04%
  • rippleXRP(XRP)$2.390.15%
  • binancecoinBNB(BNB)$650.920.98%
  • solanaSolana(SOL)$168.490.42%
  • usd-coinUSDC(USDC)$1.000.00%
  • dogecoinDogecoin(DOGE)$0.2261980.09%
  • cardanoCardano(ADA)$0.750.32%
  • tronTRON(TRX)$0.2665991.15%
  • suiSui(SUI)$3.882.04%
  • chainlinkChainlink(LINK)$15.902.92%
  • avalanche-2Avalanche(AVAX)$22.31-0.37%
  • hyperliquidHyperliquid(HYPE)$26.821.19%
  • stellarStellar(XLM)$0.287026-0.30%
  • shiba-inuShiba Inu(SHIB)$0.0000150.08%
  • hedera-hashgraphHedera(HBAR)$0.1949720.35%
  • unus-sed-leoUNUS SED LEO(LEO)$8.63-1.05%
  • bitcoin-cashBitcoin Cash(BCH)$394.85-1.09%
  • the-open-networkToncoin(TON)$3.03-1.63%
  • litecoinLitecoin(LTC)$98.76-0.29%
  • polkadotPolkadot(DOT)$4.62-0.63%
  • moneroMonero(XMR)$344.591.61%
  • bitget-tokenBitget Token(BGB)$5.241.04%
  • pepePepe(PEPE)$0.0000130.82%
  • daiDai(DAI)$1.000.02%
  • piPi(PI)$0.74-1.32%
  • ethena-usdeEthena USDe(USDE)$1.000.00%
  • aaveAave(AAVE)$253.9013.54%
  • uniswapUniswap(UNI)$5.950.74%
  • bittensorBittensor(TAO)$413.63-0.63%
  • nearNEAR Protocol(NEAR)$2.780.95%
  • aptosAptos(APT)$5.212.69%
  • okbOKB(OKB)$52.31-0.85%
  • ondo-financeOndo(ONDO)$0.930.26%
  • kaspaKaspa(KAS)$0.108194-1.25%
  • ethereum-classicEthereum Classic(ETC)$18.521.74%
  • internet-computerInternet Computer(ICP)$5.220.76%
  • gatechain-tokenGateToken(GT)$21.54-0.35%
  • crypto-com-chainCronos(CRO)$0.096776-0.96%
  • official-trumpOFFICIAL TRUMP(TRUMP)$12.84-0.80%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.234722-0.71%
  • mantleMantle(MNT)$0.73-1.06%
  • vechainVeChain(VET)$0.028244-0.09%
  • render-tokenRender(RENDER)$4.611.09%
  • ethenaEthena(ENA)$0.370779-1.73%
  • usd1World Liberty Financial USD(USD1)$1.000.03%
  • filecoinFilecoin(FIL)$2.871.20%
  • algorandAlgorand(ALGO)$0.2227140.28%
  • arbitrumArbitrum(ARB)$0.3917132.23%
  • bitcoinBitcoin(BTC)$106,146.151.08%
  • ethereumEthereum(ETH)$2,531.704.18%
  • tetherTether USDt(USDT)$1.00-0.04%
  • rippleXRP(XRP)$2.390.15%
  • binancecoinBNB(BNB)$650.920.98%
  • solanaSolana(SOL)$168.490.42%
  • usd-coinUSDC(USDC)$1.000.00%
  • dogecoinDogecoin(DOGE)$0.2261980.09%
  • cardanoCardano(ADA)$0.750.32%
  • tronTRON(TRX)$0.2665991.15%
  • suiSui(SUI)$3.882.04%
  • chainlinkChainlink(LINK)$15.902.92%
  • avalanche-2Avalanche(AVAX)$22.31-0.37%
  • hyperliquidHyperliquid(HYPE)$26.821.19%
  • stellarStellar(XLM)$0.287026-0.30%
  • shiba-inuShiba Inu(SHIB)$0.0000150.08%
  • hedera-hashgraphHedera(HBAR)$0.1949720.35%
  • unus-sed-leoUNUS SED LEO(LEO)$8.63-1.05%
  • bitcoin-cashBitcoin Cash(BCH)$394.85-1.09%
  • the-open-networkToncoin(TON)$3.03-1.63%
  • litecoinLitecoin(LTC)$98.76-0.29%
  • polkadotPolkadot(DOT)$4.62-0.63%
  • moneroMonero(XMR)$344.591.61%
  • bitget-tokenBitget Token(BGB)$5.241.04%
  • pepePepe(PEPE)$0.0000130.82%
  • daiDai(DAI)$1.000.02%
  • piPi(PI)$0.74-1.32%
  • ethena-usdeEthena USDe(USDE)$1.000.00%
  • aaveAave(AAVE)$253.9013.54%
  • uniswapUniswap(UNI)$5.950.74%
  • bittensorBittensor(TAO)$413.63-0.63%
  • nearNEAR Protocol(NEAR)$2.780.95%
  • aptosAptos(APT)$5.212.69%
  • okbOKB(OKB)$52.31-0.85%
  • ondo-financeOndo(ONDO)$0.930.26%
  • kaspaKaspa(KAS)$0.108194-1.25%
  • ethereum-classicEthereum Classic(ETC)$18.521.74%
  • internet-computerInternet Computer(ICP)$5.220.76%
  • gatechain-tokenGateToken(GT)$21.54-0.35%
  • crypto-com-chainCronos(CRO)$0.096776-0.96%
  • official-trumpOFFICIAL TRUMP(TRUMP)$12.84-0.80%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.234722-0.71%
  • mantleMantle(MNT)$0.73-1.06%
  • vechainVeChain(VET)$0.028244-0.09%
  • render-tokenRender(RENDER)$4.611.09%
  • ethenaEthena(ENA)$0.370779-1.73%
  • usd1World Liberty Financial USD(USD1)$1.000.03%
  • filecoinFilecoin(FIL)$2.871.20%
  • algorandAlgorand(ALGO)$0.2227140.28%
  • arbitrumArbitrum(ARB)$0.3917132.23%