Nigeria Bans Binance, World’s Largest Crypto Exchange

Nigeria’s Securities and Exchange Commission has declared the activities of Binance illegal, banning the world’s largest cryptocurrency exchange from the country, according to a statement by the regulator. “Binance Nigeria Limited is hereby directed to immediately stop soliciting Nigerian investors in any form whatsoever,” Nigeria’s SEC said on Friday, June 9, calling the company illegal, as it was neither registered nor regulated. Similar policies are planned for other crypto exchanges.