Binance Issues Cease and Desist Order Against ‘Binance Nigeria Limited’
While Binance is busy fighting a pitched legal battle in the U.S., its alleged woes in another part of the world seem to have been unfounded. Entity Previously Unknown to…
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While Binance is busy fighting a pitched legal battle in the U.S., its alleged woes in another part of the world seem to have been unfounded. Entity Previously Unknown to…
This comes after the Nigerian Securities and Exchange Commission released a circular stating the illegality of Binance Nigeria Limited in the country.
The move reduces the likelihood of artificial price differences between the naira and cryptocurrencies in different markets.
According to Nigeria's securities regulator, Binance is neither registered nor regulated in the country, making its operations illegal.
The legislation aims to enhance fiscal transparency, boost revenue and recognize cryptocurrencies as legitimate assets.
Efforts are underway to recover compromised assets and enhance security measures as users express concerns on social media.
The world’s second-ever CBDC has yet to reach 1% of Nigeria’s population, according to the IMF assessment.
Argentina’s central bank banned payment providers from offering crypto transactions, adding that it intends to reduce the country’s payment-system exposure to digital assets.
Nigeria’s crypto community celebrates the approval of the National Blockchain Policy, set to impact governance, digital identity management and e-payments.
Nigeria’s Federal Executive Council has approved the national policy on blockchain to help the country develop a regulatory framework to govern the adoption of the technology.