The SEC Nigeria has linked
the activities of Binance Nigeria, an unregistered company that offered crypto-asset trading to the country’s citizens, to the activities of the largest cryptocurrency exchange, Binance. The regulator demanded that Binance Group immediately cease
all operations to attract Nigerian investors in any form.
The head of the exchange, Changpeng Zhao, responded via Twitter that his company has nothing to do with Binance Nigeria.
Mariblock reporters were able to obtain corroborating comments from an unnamed Binance Nigeria representative who stated that although the SEC’s calls are directed at Binance Group, he assures: his organization is not affiliated with Binance. According to the source, this is a mistake caused by the consonance of the names of two independent legal entities.
“Binance Nigeria was incorporated in 2019 for the purpose of providing arbitrage services. At the time, we speculated that Binance might want to open a representative office and set up operations in Nigeria. However this did not happen, and as you can see, Binance Nigeria is not working,” said a representative of the Nigerian trading platform.
According to Google Trends, the highest number of searches worldwide that contain the word “cryptocurrency” are
The highest number of searches worldwide for the word “cryptocurrency,” according to Google Trends.