Amid the ongoing issues faced by Binance in Nigeria, it is pertinent to note that the cryptocurrency firm has also been banned in several other countries.
Binance, founded in 2017 by Changpeng Zhao, is currently facing global scrutiny, including investigations by the US Department of Justice and IRS for alleged money laundering, among others.
Here is a comprehensive list of countries where Binance has been banned worldwide:
1. Canada
2. China
3. Japan
4. Italy
5. Phillipines
6. United States
7. Australia
8. India
9. Iran
10. Netherlands
11. Germany
12. Belgium
13. Bangladesh
14. France
15. Vietnam
16. Thailand
17. Kazakhstan
18. Malaysia
19. United Kingdom
Most of these restrictions are rooted in licensing and money laundering issues. In Nigeria, calls have been made for banning crypto platforms due to regulatory concerns raised by the Central Bank.
Today, BusinessDay reported that the Federal Government is demanding a retribution fee of $10 billion from Binance. Bayo Onanuga, the special adviser to President Tinubu on information and strategy said this while alleging that the cryptocurrency platform profited illegally from transactions in the country.(BusinessDay)
