On August 12, according to a report by BeInCrypto, Momotimi Agama, the head of the Nigerian Securities and Exchange Commission (SEC), said that the agency is cautiously open to Bitcoin regulation and willing to actively explore relevant frameworks. Agama stressed that the SEC remains primarily focused on investor protection and maintaining market integrity. The regulator is committed to helping people understand the concept of cryptocurrencies and guiding them on how to properly trade digital assets. In addition, severe measures will be taken against companies or individuals who do not comply with SEC regulations. Previously, Nigeria detained and charged Binance executive Tigran Gambaryan with violating anti-money laundering laws.