简体中文
繁體中文
English
Pусский
日本語
ภาษาไทย
Tiếng Việt
Bahasa Indonesia
Español
हिन्दी
Filippiiniläinen
Français
Deutsch
Português
Türkçe
한국어
العربية
Abstract:Nigerian Securities and Exchange Commission has declared the operations of Binance Nigeria Limited within the country as illegal and warned citizens to beware of the risks associated with dealing with the exchange.
By: Damian Okonkwo
The Nigerian Securities and Exchange Commission (SEC) has declared the activities of Binance Nigeria Limited within the country as illegal.
In a statement published on its website last Friday, the SEC said that Binance Nigeria Limited is not registered with the commission and is therefore not authorized to operate in Nigeria. The statement also warned Nigerians that any investment made through Binance Nigeria Limited is at their own risk.
The SEC's decision comes after Binance Nigeria Limited had been actively promoting its services to Nigerians in recent months. The company had even opened an office in Lagos, Nigeria's commercial capital.
Binance is the leading cryptocurrency exchange founded in 2017 by the Chinese business mogul and investor - Changpeng Zhao. The company has since become one of the most popular cryptocurrency exchanges in the world, with over 100 million users.
The SEC's decision to declare Binance Nigeria Limited illegal is a significant development for the cryptocurrency industry in Nigeria. The country is one of the largest markets for cryptocurrency in Africa, and the SEC's decision could have a chilling effect on the industry.
It remains to be seen how Binance will respond to the SEC's decision. The company could challenge the decision in court, or it could simply cease operations in Nigeria.
The SEC's decision is a reminder of the risks associated with investing in cryptocurrencies. Cryptocurrencies are a volatile asset class, and there is no guarantee that investors will not lose money if they invest in them.
Investors who are considering investing in cryptocurrencies should carefully evaluate the risks involved before proceeding to make such investments.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
Dukascopy marks 20 years of excellence in trading, offering JForex, MT4/5, 1,200+ instruments, and global banking, dedicated to trust and innovation.
Track key forex pairs like EUR/USD, USD/JPY, and USD/MXN for insights on volatility and market sentiment during this U.S. election week, November 5, 2024.
In the current political climate, understanding the policy differences between the main candidates has become increasingly important. As the 2024 U.S. presidential election approaches, the intense rivalry between Trump and Harris not only influences voters' decisions but also determines the future direction of the nation at a crucial time. With voting imminent, voters face two distinctly different governance philosophies and policy directions that impact not only U.S. domestic and foreign policy but also profoundly affect the global investment landscape.
As the 2024 U.S. presidential race approaches, investors worldwide are closely watching potential outcomes and their implications for global markets. While a 269-269 Electoral College tie between Vice President Kamala Harris and former President Donald Trump remains unlikely, its occurrence would set the stage for an unprecedented period of political uncertainty, triggering a contingent election decided by Congress. Such uncertainty would ripple across forex, stock, and oil markets, where stability and predictability are prized. Here’s a look at how a tie could affect these key financial sectors.