Why Nigeria goment ban Binance?

Authorities for Nigeria don ban di world biggest cryptocurrency trading platform, Binance from operating in di kontri.

Di Securities and Exchange Commission (SEC) make di announcement on Friday for statement wey dem publish on dia website.

“Di attention of di Securities and Exchange Commission don dey drawn to one website wey Binance Nigeria Limited dey operate, wey dey urge di Nigerian public to trade crypto assets on dia various web and mobile-enabled platforms,” na so di statement tok.

Dis one dey happun as di US sue di CEO of Binance Changpeng Zhao dis week.

Why Nigeria goment ban Binance

SEC say Binance Nigeria Limited no dey registered and di commission no dey fit regulate am and dia operations for Nigeria.

Dis one make di company “illegal”.

Di commission warn say “Any member of di investing public wey deal wit di entity dey do am at dia own risk.

Di Commissiosn say Nigerians need to dey careful of investing in crypto-assets, and crypto-asset and odas wey relate to financial products and services if di service provider or dia platform no dey registered or regulated by di Commission.

“We hereby warn Nigerian investors say investing in crypto-assets dey extremely risky and fit lead to total loss of dia investment.

“By dis circular, Binance Nigeria Limited dey hereby directed to immediately stop to tell Nigerian investors to dia platform in any form whatsoever.”

Goment say dem go kontinu to provide updates on di activities of Binance as e dey happun.

We dey update dis tori