The Nigerian Securities and Exchange Commission (SEC) has decided to take action against individuals and cryptocurrency exchanges that fail to adhere to regulatory frameworks. This move aims to maintain market order and protect investors' interests. SEC Director-General Emomotimi Agama stated in a Sunday statement that they will crack down on violations and face corresponding enforcement actions for any entity unwilling to be regulated. Two weeks ago, the SEC had temporarily approved two digital asset exchanges, Busha and Quidax, to operate under an accelerated regulatory incubation program. However, the SEC noted that many unapproved cryptocurrency trading platforms were still operating, which raised concerns among regulators.