• Tuesday, April 16, 2024
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List of countries where Binance operations have been banned

Binance paused Nigerian trades over price suppression

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.