Binance has been strongly advised against by the Securities and Exchange Commission (SEC) of Nigeria. The Commission ruled that Binance’s actions and operations in Nigeria are unlawful in a statement.
The official circular states that the platform for Binance, which can be accessed at www.binance.com, is “neither registered nor regulated by the Commission.” The SEC has so warned the investing public in Nigeria that dealing with Binance or any other organization that is making similar solicitations is done at their own risk.
Investments in crypto-assets have a significant degree of risk, according to the Commission, and there is a chance that they might lose all of their value. Investor safety is the SEC’s first priority, and it has warned the investing public to exercise caution when purchasing goods and cryptoassets from companies that are not registered with or authorized by the Commission.
The circular also ordered any…
