Digital Policy Alert logo

Nigeria: Issued Nigerian SEC warning against Investing with Binance

Policy overview

Description

Issued Nigerian SEC warning against Investing with Binance

On 28 July 2023, the Nigerian Securities and Exchange Commission (SEC) published a warning to the public against investing with the crypto platform Binance. The SEC noted that Binance is neither registered with nor regulated through the SEC and Binance's activities are therefore illegal.

Original source

Scope

Policy Area
Authorisation, registration and licensing
Policy Instrument
Operational license requirement
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Implementation Level
national
Government Branch
executive
Government Body
other regulatory body

Complete timeline of this policy change

Hide details
2023-07-28
adopted

On 28 July 2023, the Nigerian Securities and Exchange Commission (SEC) published a warning to the p…

We use cookies and other technologies to perform analytics on our website. By opting in, you consent to the use by us and our third-party partners of cookies and data gathered from your use of our platform. See our Privacy Policy to learn more about the use of data and your rights.