The Securities and Exchange Commission has declared the activities of a cryptocurrency site known as Binance illegal in Nigeria. The Commission disclosed
The Securities and Exchange Commission has declared the activities of a cryptocurrency site known as Binance illegal in Nigeria.It stated that Binance is neither registered nor regulated by it, and its operations in the country are illegal.It said, “The attention of the Securities and Exchange Commission has been drawn to the website operated by Binance Nigeria Limited, soliciting the Nigerian public to trade crypto assets on its various web and mobile-enabled platforms.
“Binance Nigeria Limited is neither registered nor regulated by the Commission, and its operations in Nigeria are therefore illegal. Any member of the investing public dealing with the entity is doing so at their own risk.” The Commission further urged Nigerians to be wary of investing in crypto-assets and crypto-asset-related financial products and services if the service provider/ platform is not registered or regulated.
It added, “Nigerian investors are at this moment warned that investing in crypto-assets is extremely risky and may result in total loss of their investment. DAILY POST learnt that Binance is facing a lawsuit in the United States after the US Securities and Exchange Commission filed charges against it on Monday.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
SEC: Binance operations in Nigeria illegalThe Securities and Exchange Commission (SEC) says the operations of Binance Nigeria Limited, a subsidiary of Binance, in the country are illegal.
Read more »
Binance operations in Nigeria illegal - SEC'Binance Nigeria Limited is neither registered nor regulated by the Commission and its operations in Nigeria are therefore illegal,”...
Read more »
Crypto Company, Binance Operations Illegal, Not Registered; Trade At Your Own Risk – Regulator, SEC Warns Nigerians | Sahara ReportersThe activities of crypto exchange company, Binance in Nigeria have been declared illegal by the Securities and Exchange Commission (SEC) of Nigeria. Federal regulators in the United States had sued Binance, the world’s largest crypto exchange, accusing the company of running an illegal exchange in the US and raking in billions of dollars’ worth of customer funds.
Read more »
10,048 Nigerians suffering from Multiple Sclerosis - NeurologistAbout 10,048 Nigerians are suffering from Multiple Sclerosis (MS), a combined brain and spinal cord ailment, the Nigerian Society of Neurological Sciences
Read more »
Tinubu intelligent, ready to serve Nigerians - LP Reps member-electA House of Representatives member-elect on the platform of the Labour Party, Godwin Ogar, said he never knew that President Bola Tinubu was so intelligent, and he felt so proud listening to a man who is prepared to serve Nigerians.Tinubu
Read more »
Sultan attests to Dokpesi’s good relationship with fellow NigeriansThe only interview granted by Chief Dokpesi that I ever watched was the one aired after he passed on.
Read more »