SEC DG Agama

The Securities and Exchange Commission has vowed to combat fraud, money laundering, and market manipulation in the country’s rapidly evolving cryptocurrency sector. The Director General of the SEC, Emomotimi Agama, made the pledge during the opening of the International Organisation of Securities Commissions World Investor Week in Lagos on Monday. He noted, “As the aforementioned framework continues to evolve, enforcement action against illegal crypto platforms will significantly increase in severity. “As financial products become more complex and technology-driven, from fintech innovations to cryptocurrency trading, it is critical and responsible for stakeholders to commit to equipping investors with the knowledge to navigate these markets confidently and responsibly.” To address the unique challenges posed by the crypto landscape, he disclosed that the SEC had developed and released comprehensive frameworks aimed at regulating Virtual Asset Service Providers.