Nigeria's Regulator Reportedly Halts Binance Operations

According to Nigeria’s securities regulator, Binance is neither registered nor regulated in the country, making its operations illegal.

It has been a tough week for cryptocurrency exchange Binance. On June 9, Nigeria’s securities authority reportedly deemed the 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 (SEC) said in a statement seen by Bloomberg.

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