- The Securities and Exchange Commission (SEC) of Nigeria has declared Binance Nigeria operation illegally
- Nigerians have also been warned to exercise caution when dealing with unregistered and unregulated platforms like Binance Nigeria
- This action by the SEC reflects a broader global trend among regulators to address the challenges posed by the cryptocurrency market
The Securities and Exchange Commission (SEC) of Nigeria has officially declared that Binance Nigeria Limited, a cryptocurrency exchange, is operating illegally in the country.
According to a statement posted on its website, SEC cautioned the Nigerian public against engaging with the platform while highlighting the risks associated with investing in crypto-assets.
