Binance Issues Cease and Desist Order to Scam Nigerian Company
The CEO of Binance, Changpeng Zhao, has announced that Binance has formally issued a cease and desist order to the fraudulent organization known as Binance Nigeria Limited. Sunday, June 18, Zhao announced via Twitter. The Nigerian Securities and Exchange Commission (SEC) issued a circular on June 9 stating that Binance Nigeria Limited is unlawful in […]
Binance to leave Netherlands after failing to acquire VASP license
Binance is leaving the Netherlands because it failed to obtain a virtual asset service provider (VASP) license. The company has informed its Dutch customers about this decision. Starting July 17, existing customers can only withdraw funds from the platform. Trading, deposits, and purchases will no longer be possible. Binance expressed disappointment about the situation but […]
Binance’s Cyprus Unit Seeks Deregistration as Service Provider
Binance has applied to have its registration as a distributor of crypto assets revoked in its Cyprus office, as reported by the nation’s securities commission. The commission did not provide any explanations for the application. Binance is a prominent player in the cryptocurrency industry and operates in several countries, including Cyprus, where it offers a […]
Venus Protocol Eyes BNB Liquidation as Price Drops
Venus Protocol, a decentralized lending platform on Binance Smart Chain, has announced its readiness to liquidate a large BNB position belonging to a hacker potentially. The protocol said that if the BNB falls below $220, the Binance Chain core team will take over the position without affecting the protocol or its users. The hacker’s BNB […]
Nigeria SEC declares Binance operations in country illegal
The SEC clarified that it has no authority to regulate or authorize Binance Nigeria, making its operations in the country unlawful. The SEC, as the primary regulatory body for investor protection, emphasized the risks associated with using unregistered platforms like Binance Nigeria. It advised investors to exercise caution when dealing with digital assets and related […]