Bitcoin Hot News
Nigeria’s capital market regulator, the Securities and Exchange Commission (SEC) has warned the public against investing in cryptocurrencies including Bitcoin.
Published yesterday, the official public notice is advising investors to be wary
of investment schemes and companies soliciting investment via cryptocurrencies. The
warning comes after the revelation that MMM Nigeria – a prominent multi-
The warning read:
The attention of the Securities and Exchange Commission has been drawn to radio advertisements and other modes of solicitations of the public to invest in cryptocurrencies such as Swisscoin, OneCoin, Bitcoin and other such virtual or digital currencies. The public is hereby advised to exercise extreme caution with regard to digital (cryptocurrencies) as a vehicle of investments.
The authority also reminded investors that none of companies or individuals publicizing
With its re-
The SEC is also reminding users that there will be no consumer protection available to investors in virtual currencies or schemes using them in the event of them going bust.
It is estimated that three million Nigerians were affected when MMM Nigeria froze subscriber accounts in December.