Binance has restricted transactions with 17 crypto platforms, including three linked to Nigeria, following recent regulatory developments.
Binance has stopped processing transactions involving 17 cryptocurrency platforms and service providers. The move affects firms operating in Nigeria and several other countries.
In Nigeria, the affected platforms include A7 Nigeria, A7 Africa and PilotFinance Ltd. Binance said restrictions on these firms started on August 13. However, the exchange did not reveal the specific regulatory changes behind the decision.
Meanwhile, restrictions on some other platforms will begin in phases. From August 23, they are expected to affect Rapira, Aifory Pro, ABCeX, WhiteBird and Tradex. NoOnecrypto, Monease, BitPapa, Exnode, Exnode Pay, HTX and EXMO are also on the list.
Binance has warned users to avoid transactions with the affected platforms after their restriction dates. It also advised users not to share wallet addresses in ways that link them to these providers.
“Any transactions attempted on or after these dates may be held and subject to a compliance review,” Binance said.
The exchange may also restrict affected wallets during reviews. Binance added that such activity could breach its terms of use.
“Binance is required to adhere to the regulatory requirements in the jurisdictions in which it operates,” the company said.
It added that the measures are needed to keep users and their assets safe.
