The Nigerian Securities and Exchange Commission (SEC) called Binance’s activities in the country illegal and demanded that operations be halted.
A new step is taken against the crypto exchange Binance. Nigeria, the most densely populated country in Africa came by. In a statement made by the country’s official regulatory agency, Binance’s off the record And unregulated It was requested that the operations be stopped on the grounds that
Binance’s activities are clearly stated as there is no licensing situation while the said disclosure is made by Nigeria’s regulator. illegal was defined as.
Binance Nigeria Limited should immediately stop any attempts to seek clients specifically for Nigerian investors. The risks to be taken by the investors doing business with this institution are entirely their own.
The Nigerian government also country citizens, investing in cryptocurrencies it’s extremely risky warned about.
A statement on the Binance spokespersonstated that they were aware of the disclosure, but that the organization the SEC stated a different organization stated that:
We are aware of the circular, but the organization named in the circular is not affiliated with us. That’s why we ask for clarity from the Nigerian SEC and we are committed to working in collaboration with them on the next steps.
The Nigerian government banned cryptocurrencies completely in the past and users for this reason. serious fine gave rise to cryptocurrencies and blockchain technology. legalize had come to the fore by taking steps for it.