Regulatory Alerts2023-06-09
Circular on the Activities of Binance Nigeria Limited
The Securities and Exchange Commission has directed Binance Nigeria Limited to immediately cease soliciting Nigerian investors, citing its unregistered status as constituting illegal operations. The regulator warns the public that investing with unregulated crypto platforms carries extreme risk and may result in total financial loss. The Commission will coordinate with other Nigerian regulators to issue further guidance and monitor compliance from Binance and similar platforms.
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