June 18 (Reuters) – Binance has issued a stop and desist order to “Binance Nigeria Restricted”, Binance CEO Changpeng Zhao stated in a tweet on Sunday, calling the Nigerian firm a “scammer entity”.
Earlier this month, Nigeria’s markets regulator ordered Binance to halt its operations within the nation, saying native unit “Binance Nigeria Restricted” that courted Nigerian traders via an internet site was not registered or regulated, making it unlawful.
Binance, the world’s greatest cryptocurrency trade, has confronted a string of setbacks not too long ago, saying plans to go away the Netherlands, Cyprus, Canada and Australia, and being charged by the U.S. Securities and Trade Fee (SEC).
The SEC sued Binance and Zhao earlier this month alleging that the corporate artificially inflated its buying and selling volumes, diverted buyer funds, and misled traders about its market surveillance controls. Binance disputes the SEC prices.
Reporting by Gursimran Kaur in Bengaluru; Modifying by Kirsten Donovan
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