SEC warns against illegal cryptocurrency operator and its products

The Security and Exchange Commission (SEC), has warned stakeholders and the investing public about the activities of an illegal blockchain operator. This is part of measures aimed at safeguarding the investing public from the activities of illegal and fraudulent operators in the capital market.

In the statement, SEC, called the attention of the public to the activities of iBSmartify Nigeria, the promoters of a blockchain known as iBIedger (iBcashcryptocurrency) and InksNation.

This was disclosed in a circular, which was released by the Security and Exchange Commission on Friday, June 26, 2020, to capital market operators and the investing public.