'Binance Nigeria Limited is neither registered nor regulated by the Commission and its operations in Nigeria are therefore illegal,”...
says the operation of Binance Nigeria Limited, the Nigerian subsidiary of the world’s largest cryptocurrency exchange, Binance, is illegal.on its website on Friday, said Binance Nigeria Limited is neither registered nor regulated by the commission and its operations in Nigeria are therefore illegal.
“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. The SEC further noted that “as the regulator with the statutory mandate of investor protection, the Commission urges Nigerians to be wary of investing in crypto-assets, and crypto-asset related financial products and services if the service provider/its platform is not registered or regulated by the Commission.”The commission warned investors that investing in crypto-assets is extremely risky and may result in total investment loss.
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