At least 19 nations have outlawed or limited use of Binance, a well-known international cryptocurrency exchange.
that Binance has been charged with manipulating currency values and carrying out unlawful transactions in Nigeria and other countries.
The Nigerian government, like other governments across the globe, has been looking into allegations of money laundering and terrorism financing involving transactions on the currency exchange website.
Additionally, Binance was accused and charged by the federal government with currency speculation, tax evasion, and failure to register with the Federal Inland Revenue Service (FIRS).
The Nigerian government had demanded that Binance pay at least $10 billion in reparations for making money off of “its illegal transactions” within the country.
As part of a larger crackdown on cryptocurrency platforms, the Nigerian authorities detained the two executives of Biance and confiscated their international passports after the development.
Binance Holdings Limited was ordered by a Federal High Court in Abuja to give the Economic and Financial Crimes Commission (EFCC) complete information about every Nigerian who trades on its platform.
The list of nations that have outlawed or restricted Binance is provided below.
1. United Kingdom
2. Japan
3. Italy
4. Canada
5. Belgium
6. Nigeria
7. Australia
8. India
9. Netherlands
10. Thailand
11. Philippines
12. Germany
13. France
14. Bangladesh
15. Iran
16. Vietnam
17. Kazakhstan
18. Malaysia
19. China.