News Explorer — Nigerian SEC Deems Binance’s Activities Illegal and Ordered All Crypto Platform Providers to Stop Soliciting Nigerian Citizens

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Nigerian SEC Deems Binance’s Activities Illegal and Ordered All Crypto Platform Providers to Stop Soliciting Nigerian Citizens

The Nigerian Securities and Exchange Commission (SEC) has declared that crypto exchange Binance’s activities in the country are illegal. The SEC issued a notice ordering all crypto platform providers to cease soliciting Nigerian citizens. The commission emphasized that Binance’s website and any other platform used to solicit investors are not registered or regulated by the SEC, making their operations in Nigeria illegal.

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