Nigeria's securities authority reportedly deemed the exchange illegal on June 9, just days after Binance was sued by the U.S. SEC.
It has been a tough week for cryptocurrency exchange Binance. On June 9, Nigeria's securities authority reportedlythe exchange illegal, just days after Binance was sued by the U.S. Securities and Exchange Commission.
"Binance Nigeria Limited is hereby directed to immediately stop soliciting Nigerian investors in any form whatsoever," Nigeria's Securities and Exchange Commission said in a statementThe regulator also noted that Binance is neither registered nor regulated in the country, making its operations illegal. “Any member of the investing public dealing with the entity is doing so at his or her own risk,” said the commission.
Allegedly, Binance US putting customer funds at risk. Anyone with proof will be doing millions of people a lot of good.
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