The CEO of Binance, the world’s largest cryptocurrency exchange by trading volume, has been summoned by a Nigerian committee over suspicions of financial crime. The committee, established to combat financial crimes, aims to scrutinize the activities of Binance in the country. The probe comes amid growing concerns about the potential use of cryptocurrencies for illegal activities.
Nigeria, Africa’s largest economy, has seen a surge in cryptocurrency usage in recent years. However, this has triggered increased scrutiny from regulatory bodies. Binance’s activities are now under the microscope, as the committee seeks to understand the extent and nature of its operations within the country. The outcome of this investigation could have significant implications for the future of cryptocurrency trading in Nigeria.
