The Securities and Exchange Commission (SEC) says the Investment and Securities Act (ISA 2025) has made it illegal for anyone to operate digital asset exchanges or online foreign exchange trading platforms without registration.

In a statement yesterday, the SEC clarified that it is an offence in Nigeria for any entity that is not registered by the commission to carry out the business of online foreign exchange trading platforms or related services.

It added that with the ISA 2025 now in force, that repeals the ISA 2007, stakeholders in the financial and investment ecosystem are advised to familiarise themselves with the new provisions and ensure full compliance.

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