Nigerian SEC Clarifies Warning against Binance, Labels It 'Illegal'

<p>Nigeria’s Securities and Exchange Commission (SEC) reiterated its warning against <a href="https://www.financemagnates.com/tag/binance/">Binance</a>, the largest crypto exchange in terms of trading volume, highlighting the platform has been “soliciting Nigerian public to trade crypto assets.”
</p><p>Binance Is Illegal in Nigeria
</p><p>The latest announcement last Friday came after the Nigerian financial market regulator <a href="https://www.financemagnates.com/cryptocurrency/nigeria-orders-binance-to-halt-operations-while-hong-kong-welcomes-coinbase/">initially flagged Binance Nigeria Ltd on June 9</a>, 2023. However, Binance then said that the flagged firm was not affiliated with it and even sent a cease-and-desist notice to it.</p><blockquote><p lang="en" dir="ltr">Binance have issued cease &amp; desist notice to the scammer entity "Binance Nigeria Limited".Don't believe everything you read in the news.