Binance CEO issues cease and desist to unaffiliated Binance Nigeria Limited

Binance CEO Changpeng ‘CZ’ Zhao said his speech had issued a cease and desist announcement to an unaffiliated ‘scam’ entity, “Binance Nigeria Limited,” according to a June 18 tweet.

Binance Nigeria Limited declared illegal.

On June 9, the Nigerian Securities and Exchange Commission declared Binance Nigeria Limited’s cognition amerciable wrong the country.

The regulator stated that the steadfast solicited the Nigerian nationalist to commercialized crypto assets connected its web and mobile-enabled platforms. It added:

“Binance Nigeria Limited is neither registered nor regulated by the Commission and its operations successful Nigeria are truthful illegal. Any subordinate of the investing nationalist dealing with the entity is doing truthful astatine his/her ain risk.”

Binance Nigeria Limited

CryptoSlate’s Nigerian Corporate Affairs Limited (CAC) website hunt revealed that “Binance Nigeria Limited” was registered connected December 9, 2019. The steadfast was registered nether CAC fig “1639782″ and has a carnal code successful Mabushi District.

Source: Nigeria CAC

An email code attached to the filing for Binance Nigeria Limited has yet to respond to CryptoSlate’s petition for remark arsenic of property time. Additionally, the entity has nary societal media presence, arsenic searches of its sanction connected Twitter, Facebook, Instagram, and Reddit brought nary results.

Meanwhile, section media reported that individuals associated with Binance Nigeria Limited said it was registered for arbitrage purposes and is unaffiliated with the planetary exchange.  

Binance response

In an email to CryptoSlate, Binance said it does not admit the entity named successful the Nigerian SEC circular.

A spokesperson for the speech said:

“The entity mentioned successful the circular is not affiliated with us. We are truthful seeking clarity from the Nigerian SEC and stay committed to moving with them cooperatively connected the adjacent steps.”

Earlier successful the month, the U.S. SEC sued Binance and Zhao for national securities instrumentality violations and for facilitating trades of security offerings similar BNB and BUSD. Since then, the regulator has moved to freeze the assets of its U.S. subsidiary, Binance US, and issued a court summons for CEO Changpeng ‘CZ’ Zhao.

Meanwhile, Binance said it would support itself successful tribunal against these charges.

Additionally, the steadfast has faced aggregate regulatory issues crossed respective countries, including the Netherlands and Cyprus.

The station Binance CEO issues cease and desist to unaffiliated Binance Nigeria Limited appeared archetypal connected CryptoSlate.