The Nigerian Securities and Exchange Commission (SEC) has warned local investors against using Binance.
SEC pressure continues on Binance. The popular cryptocurrency exchange, which has been in tension with the SEC for a long time, has been hit by Nigeria this time. Nigeria’s SEC branch, by issuing a warning about Binance users, Nigeria’s SEC, which pointed out illegal users, attracted global attention.
SEC Nigeria puts illegal users on its radar
The SEC issued a circular in June limiting Binance Nigeria’s activities. The circular represents the currently released warning for investors and platforms. However, Binance Nigeria was expressed as a platform that has no affiliation with Binance. In response to these situations, Binance has issued a cease and desist notice on Binance Nigeria.
Continuing its pressure on Binance not only in Nigeria but globally, the SEC is also creating tension in cryptocurrencies. The SEC, which comes to the agenda from time to time about Ripple and Binance, can directly shake the BTC price in any negative situation and cause larger decreases in altcoins.
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