Binance Holdings Ltd., one of the world’s biggest crypto exchanges, said it restricted the personal accounts of some Nigerian users to comply with anti-money laundering regulations and ensure the security of the platform for traders.
“Protection mechanisms such as know your customer, anti-money laundering measures, collaboration with law enforcement, and account restrictions are in place to ensure our community remains protected,’ the crypto exchange said in a statement on its website. “Some 281 Nigerian accounts have been affected by these personal account restrictions, with approximately 38% of these cases restricted at the request of international law enforcement,” it said.