The Commission

The Securities and Exchange Commission (the Commission) has become aware of the activities of Binance Nigeria Limited, which is promoting the trading of crypto assets to the Nigerian public through its web and mobile platforms.



The SEC released a circular, instructing Binance Nigeria Limited to immediately cease soliciting Nigerian investors through any means.



It is important to note that Binance Nigeria Limited is not registered or regulated by the Commission, making its operations in Nigeria illegal. Any individual engaging with this entity does so at their own risk.



As the regulatory body responsible for investor protection, the Commission advises Nigerians to exercise caution when investing in crypto assets or related financial products and services. It is essential to ensure that the service provider and its platform are duly registered and regulated by the Commission. Investing in crypto assets carries significant risks and may lead to complete loss of investment.



The Commission will provide updates on further regulatory actions concerning Binance Nigeria Limited and similar platforms. Additionally, the Commission will collaborate with other regulators in Nigeria to provide additional guidance on this matter.



Unlock is maintaining communication with the Securities and Exchange Commission (SEC) Nigeria and will provide additional clarifications as soon as they are made available
The post <a rel="nofollow" href="https://www.unlock-bc.com/103329/sec-vigilant-as-binance-nigeria-limiteds-activities-come-under-scrutiny/">SEC Vigilant as Binance Nigeria Limited&#8217;s Activities Come Under Scrutiny</a> appeared first on <a rel="nofollow" href="https://www.unlock-bc.com">UNLOCK Blockchain</a>.

SEC Vigilant as Binance Nigeria Limited’s Activities Come Under Scrutiny

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