$PUN Meme Coin: SEC Warns Nigerians Against Investing
SEC said the crypto is not registered in Nigeria and in that case it should be avoided because it may lack real value or utility.
$PUN Meme Coin: SEC Warns Nigerians Against Investing
The Securities and Exchange Commission (SEC) has issued a public notice that warns Nigerians against investing in unauthorized pre-sale of Punisher Coin ($PUN) . The notice cited that $PUN is being promoted across multiple online channels, despite that it's not registered for public distribution in Nigeria. The promoters or issuers of ‘Punisher Coin’ aka ‘$PUN’ are NOT REGISTERED to operate in any capacity in the Nigerian Capital Market, the agancy stated via the public notice. Based on SEC's initial findings, $PUN is categorized as a meme coin . However, the reason concerns are raised is because meme coins are type of digital currencies often recognized for having little practical/utility use, inherent worth, or associated projects. The commission said that any individual who invests in $PUN meme coins does so at his/her own risk . The commission said that meme coins like $PUN are driven by social media hype and promotional efforts to make them vulnerable to market manipulation. Rel…
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