Cryptocurrency exchange Binance has announced restrictions on transactions involving 17 cryptocurrency platforms and service providers across Nigeria, the United Arab Emirates, Iran and other countries.
The company said the move followed recent regulatory developments and would be implemented in phases.
Among the affected platforms are three operating in Nigeria: A7 Nigeria, A7 Africa and PilotFinance Ltd. Binance said restrictions on transactions involving the three took effect on August 13.
The first restrictions took effect on August 7 for Shelbit General Trading LLC, which operates in the UAE and Iran, and Aban Tether Exchange, based in Iran.
From August 23, Binance said restrictions would apply to several other platforms, including Rapira, Aifory Pro, ABCeX, WhiteBird, Tradex, NoOnecrypto, Monease, BitPapa, Exnode, Exnode Pay, HTX (Huobi Global) and EXMO.
Binance instructed users not to directly or indirectly send to, receive from or otherwise conduct transactions through its platform involving any of the listed entities after their respective effective dates.
The announcement comes as Nigerian authorities continue to intensify scrutiny of cryptocurrency platforms, with the Economic and Financial Crimes Commission (EFCC) expected to arraign Binance executives over alleged money laundering charges.
