{"id":89648,"date":"2023-06-11T10:40:35","date_gmt":"2023-06-11T09:40:35","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/binance-is-illegal-do-not-patronize-it-sec-warns-nigerians"},"modified":"2023-06-11T12:53:11","modified_gmt":"2023-06-11T11:53:11","slug":"binance-is-illegal-do-not-patronize-it-sec-warns-nigerians","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/economy\/binance-is-illegal-do-not-patronize-it-sec-warns-nigerians","title":{"rendered":"Binance is illegal, do not patronize it \u2013 SEC warns Nigerians"},"content":{"rendered":"

Africa-Press – Nigeria. <\/strong><\/span>The Securities and Exchange Commission has declared the activities of a cryptocurrency site known as Binance illegal in Nigeria.<\/p>\n

The Commission disclosed this in a statement posted on its website recently.<\/p>\n

It stated that Binance is neither registered nor regulated by it, and its operations in the country are illegal.<\/p>\n

It noted that anyone conducting business on the exchange does so at their own risk.<\/p>\n

It said, \u201cThe attention of the Securities and Exchange Commission (the Commission) has been drawn to the website operated by Binance Nigeria Limited, soliciting the Nigerian public to trade crypto assets on its various web and mobile-enabled platforms.<\/p>\n

\u201cBinance Nigeria Limited is neither registered nor regulated by the Commission, and its operations in Nigeria are therefore illegal. Any member of the investing public dealing with the entity is doing so at their own risk.\u201d<\/p>\n

The Commission further urged Nigerians to be wary of investing in crypto-assets and crypto-asset-related financial products and services if the service provider\/ platform is not registered or regulated.<\/p>\n

It added, \u201cNigerian investors are at this moment warned that investing in crypto-assets is extremely risky and may result in total loss of their investment.<\/p>\n

Binance is facing a lawsuit in the United States after the US Securities and Exchange Commission filed charges against it on Monday.<\/p>\n

For More News And Analysis About Nigeria<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Nigeria. The Securities and Exchange Commission has declared the activities of a cryptocurrency site known as Binance illegal in Nigeria. The Commission disclosed this in a statement posted on its website recently. It stated that Binance is neither registered nor regulated by it, and its operations in the country are illegal. It noted […]<\/p>\n","protected":false},"author":84,"featured_media":89646,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,15],"tags":[1570,2140,10570,254,586],"class_list":["post-89648","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-nigeria-2","tag-binance","tag-nigeria","tag-sec"],"yoast_head":"\nBinance is illegal, do not patronize it \u2013 SEC warns Nigerians - Nigeria<\/title>\n<meta name=\"description\" content=\"The Securities and Exchange Commission has declared the activities of a cryptocurrency site known as Binance illegal in ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/economy\/binance-is-illegal-do-not-patronize-it-sec-warns-nigerians\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Binance is illegal, do not patronize it \u2013 SEC warns Nigerians\" \/>\n<meta property=\"og:description\" content=\"The Securities and Exchange Commission has declared the activities of a cryptocurrency site known as Binance illegal in ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/economy\/binance-is-illegal-do-not-patronize-it-sec-warns-nigerians\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2023-06-11T09:40:35+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-06-11T11:53:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2023\/06\/sm_1686468106.049349.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/binance-is-illegal-do-not-patronize-it-sec-warns-nigerians#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/binance-is-illegal-do-not-patronize-it-sec-warns-nigerians\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Binance is illegal, do not patronize it \u2013 SEC warns Nigerians\",\"datePublished\":\"2023-06-11T09:40:35+00:00\",\"dateModified\":\"2023-06-11T11:53:11+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/binance-is-illegal-do-not-patronize-it-sec-warns-nigerians\"},\"wordCount\":236,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/binance-is-illegal-do-not-patronize-it-sec-warns-nigerians#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2023\/06\/sm_1686468106.049349.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Nigeria\",\"Binance\",\"Nigeria\",\"SEC\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/economy\/binance-is-illegal-do-not-patronize-it-sec-warns-nigerians#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/binance-is-illegal-do-not-patronize-it-sec-warns-nigerians\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/binance-is-illegal-do-not-patronize-it-sec-warns-nigerians\",\"name\":\"Binance is illegal, do not patronize it \u2013 SEC warns Nigerians - 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