Binance enacts injunctive relief against Binance Nigeria Limited

Binance enacts injunctive relief against Binance Nigeria Limited

While Binance is busy leading a violent legal dispute in the United States, his alleged problems in another part of the world seem to be unfounded.

entity that Binance was previously unknown

Recently, the Nigerian SEC explained a company called Binance Nigeria Limited for illegal and banned all business within the African country. According to a circular published by the local authority, Binance Nigeria Limited is not subject to regulation - and investments made on this platform are not subject to legal protection.

The news came for Binance at the worst time, just a few days after the US authorities had sued Binance. For allegations such as working as a non-registered broker dealer, stock exchange, clearing point and the incorrect presentation of trade controls. Or rather, it would have been terrible news for Binance if the company had actually been involved.

According to a spokesman for the real stock exchange, it turned out that Binance was not aware of the existence of this company.

"The company mentioned in the circular is not connected to us. We therefore ask the Nigerian SEC for clarity and continue to strive to work with it cooperatively in the next steps."

omission and omission

According to a statement published by CZ itself, the global stock exchange has now sent an omission order to the company, which uses the name Binance.

Binance has given the fraudster company "Binance Nigeria Limited" a declaration of ceaseification.

don't believe everything you read in the news. 🤷‍♂️

- cz 🔶 binance (@cz_binance) 18. June 2023

nigeria is one of the countries with the greatest interest in cryptocurrencies in the region-and even goes so far to create a CBDC that can be used to handle online payments. In a financial climate, which is characterized by cash shortages, an employment crisis and other problems, the Nigerian government has sought opportunities to boost its economy. The use of blockchain technology is one of them.

"The vision (our) politics is to create a blockchain-based economy that supports safe transactions, data exchange and exchange of values ​​between people, companies and the government, thereby promoting innovation, trust, growth and prosperity for everyone." The implementation of national blockchain policy will have a positive effect on both the public and private sector of the country. ”

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