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BREAKING: Nigerian Regulator Suddenly Discovers Existence of Unlicensed Crypto Entities, Threatens to Actually Do Something About It

Crypto NewsNewsRegulation/Negotiation Doug Martinez September 16, 2024

A comic illustration of a stern-looking Nigerian regulator (SEC) standing in front of a cityscape with two contrasting scenes: one side shows investors being protected by regulations, while the other depicts chaos and warning signs surrounding unlicensed crypto entities.

} The Nigerian Securities and Exchange Commission is finally cracking down on unlicensed crypto entities because apparently it’s been too busy hosting tea parties with them up until now. Just two weeks ago, they were approving exchanges left and right like a bad case of FOMO (fear of missing out) – but I’m sure that had nothing to do with the fact that those same exchanges have probably greased their palms already. Anyway, Emomotimi Agama is trying to sound tough now by warning unlicensed players they’ll be blocked from operating in Nigeria if they don’t get a license under their Accelerated Regulatory Incubation Program (ARIP). Oh no, what will the crypto bros do without their Nigerian patsies? Maybe they can just move on to scamming some other unsuspecting populace. The regulator is also trying to sound all high and mighty about protecting investors while not stifling innovation – yeah right! Like that’s ever happened in this industry before. Stay tuned for more!.

Source: bitcoin.com

Nigerian Regulator Threatens Crackdown on Unlicensed Crypto Entities
https://news.bitcoin.com/nigerian-regulator-threatens-crackdown-on-unlicensed-crypto-entities
The Nigerian Securities and Exchange Commission (SEC) has vowed to crack down on unlicensed cryptocurrency businesses targeting Nigerians. This comes just two weeks after approving two crypto exchanges and promising to consider similar applications. The SEC aims to protect investors without hindering innovation. To achieve this balance, Emomotimi Agama believes Nigeria needs a clear regulatory framework and education for market participants. The Nigerian Securities and Exchange Commission (SEC) has said […]

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About the author

Doug Martinez

Doug’s foray into NFTs was a monumental disaster, losing his entire life savings on digital junk that turned out to be worthless. Fueled by a mix of rage and disbelief, Doug crafts scathing, darkly comedic articles about the NFT madness. His writing cuts through the hype with bitter clarity, exposing the folly of the NFT craze. When he's not raging about his losses, he’s probably still trying to comprehend why he fell for this ludicrous scam.

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Disclaimer

The content presented on this site is intended solely for entertainment purposes and should not be taken as factual or reliable information. This site employs satire and humor to discuss global news, current events, finance, and cryptocurrency. The views expressed here are not meant to be taken seriously and do not represent the opinions of any individuals, organizations, or entities discussed.

Please be aware that the content may be exaggerated, fictionalized, or otherwise altered to create a comedic effect. It is not intended to provide financial advice, make accurate predictions, or offer any serious commentary on current events or financial markets.

Readers are encouraged to verify any claims or statements with credible sources and should not make any decisions based on the information provided here. This blog is not responsible for any actions taken based on its content. Always consult a qualified professional before making any financial or investment decisions.

Please do not hesitate to contact us if you have any questions or concerns.

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