#Zhao announced the news on Twitter on Sunday, June 18. The #Nigerian Securities and Exchange Commission ( #SEC ) issued a circular on June 9 outlining Binance Nigeria Limited's illegality in the nation.

A spokeswoman for #Binance reportedly responded by stating that the organisation named in the circular is not connected to the business. The representative stated the company's intention to ask the Nigerian SEC for clarification and reaffirmed its dedication to working with it on the next steps.