Binance Charged for Illegal Activities In Nigeria By the SEC
The SEC issued a notice on Friday, July 28, ordering all crypto platform providers to cease soliciting Nigerian citizens. The SEC restated a previous warning about a company named Binance Nigeria Ltd., which Binance had previously clarified was not associated with them. However, in the recent notice, the SEC specifically mentioned the crypto exchange’s website. The official announcement from the Nigerian SEC reads: advertisement The Commission again reiterates that the activities of Binance, https://www.binance.com and any such other platform through which the Company solicits investors 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, making such solicitation is doing so at his/her own risk. The Nigeria n SEC, as the regulatory authority responsible for investor protection, issues a warning to the public about the high level of risk associate...