Reuters: Nigeria Regulator Says Binance Is Not Registered

The important press agency Reuters said that an important Nigerian regulator stated that Binance is not registered and has to stop soliciting investors. Check out the latest reports about this below.

According to the latest reports, it seem that Binance has been ordered to stop operating in Nigeria by the country’s markets regulator.

“Binance Nigeria Limited is hereby directed to immediately stop soliciting Nigerian investors in any form whatsoever,” said Nigeria’s Securities and Exchange Commission (SEC), according to Reuters.

The regulator also made sure to state the fact that the exchange’s local operations are unregistered and unregulated.

“We are aware of the circular, however, the entity mentioned in the circular is not affiliated with us,” said a Binance spokesperson via Telegram. “We are therefore seeking clarity from the Nigerian SEC and remain committed to working with them cooperatively on the next steps.”

Binance has a sizeable community in Nigeria, with a 64,000-strong Telegram community and an announcements channel dedicated to the region, the online publication The Block notes.

Check out the extremely relevant tweet below.

Why is the market is going up or down? No one really knows. A lot of people claim to know, and can often pin it on a single (often wrong) reason. In reality, there are many sellers and buyers in a market, everyone may have their own reasons. A few examples.

False narrative:… pic.twitter.com/LQDkEOK2as

— CZ Binance (@cz_binance) June 10, 2023

Someone commented: “After china fud in sep 11 2017, market bounce back just in 15 days..

During covid crash, market bounce back in 3 month..

So some will take the opportunity with long-term target n some will sell in fear..

Loss only when we book.”

Binance.US says that it will be halting US dollar deposits and withdrawals in response to being sued by the U.S. Securities and Exchange Commission (SEC).