Nigeria’s proposed Investments and Securities Bill aims to impose jail terms on Ponzi scheme operators, with crypto industry players hoping this will improve the sector’s reputation. The bill suggests a 10-year jail term for those operating Ponzi schemes. This move has been welcomed by those in Nigeria’s digital asset industry, as it could help clean up the sector’s image.
The proposed legislation aims to deter fraudulent activities and protect investors by cracking down on illegal operations.
