Binance Faces Legal Troubles
Binance Faces Legal Troubles: Lawsuits and Cease-and-Desist Notice Amidst Regulatory Challenges
Binance CEO Changpeng Zhaohas sent a legal notice to Binance Nigeria Limited after the Nigerian SEC declared it illegal.Binance clarified that they have no connection to the mentioned entity and are seeking clarification from the Nigerian SEC.
Binance is also dealing with a lawsuit from the U.S. SEC for operating without registration and misleading trading controls. However, a recent agreement led to the removal of a temporary restraining order on Binance US assets. Binance is based in the Cayman Islands and has a subsidiary in Seychelles.
