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Russian Ministry of Defense: 37 Ukrainian drones destroyed in 4 hours over regions of Russia and the Black Sea.
Sheikh Qassem: Our supporters make up more than half of Lebanon's population, and all of these people are united under the banner of protecting Lebanon, its Resistance, its people, and its integrity.
Sheikh Qassem: There will be no phased handing in of our arms. [The Israelis] must first enact the agreement before we start talking about a defensive strategy.
Sheikh Qassem: Be brave in the face of foreign pressures, and we will be by your side in this stance.
Sheikh Qassem: Stripping us of our arms is like stripping us of our very soul, and this will prompt us to show them our might.
Sheikh Qassem: We will not abandon our arms, for they gave us dignity; we will not abandon our arms, for they protect us against our enemy.
Sheikh Qassem: The US efforts we are seeing are aimed at sabotaging Lebanon and constitute a call for sedition.
Sheikh Qassem: If you truly want to establish sovereignty and work for Lebanon’s interests, then stop the aggression.
Sheikh Qassem: The United States, which is meddling in Lebanon, is not trustworthy but rather poses a danger to it.
Sheikh Qassem: The United States is preventing the weapons that protect the homeland.

Nigeria bans world’s largest crypto exchange; Binance

  • By Al Mayadeen English
  • Source: Agencies
  • 11 Jun 2023 19:26
2 Min Read

The Securities and Exchange Commission rules Binance's operations to be illegal.

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  • The logo for cryptocurrency site Binance appears on a mobile phone in New York, on January 31, 2023 (AP)
    The logo for cryptocurrency site Binance appears on a mobile phone in New York, on January 31, 2023 (AP)

The largest cryptocurrency exchange in the world has been barred from Nigeria by the Securities and Exchange Commission, which also ruled Binance's operations to be illegal.

The SEC stated on Friday that the firm was illegal since it was neither registered nor regulated and that "Binance Nigeria Limited is hereby directed to immediately stop soliciting Nigerian investors in any form whatsoever."

The Commission promised to keep the public informed of any further regulatory actions pertaining to the functioning of Binance Nigeria Limited and other platforms of a similar nature. In order to provide more information on the matter, the SEC further stated that it will work with other Nigerian regulators.

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In an effort to establish a middle ground between outright banning crypto assets and having no laws at all regarding their use, a set of regulations for digital assets were introduced last year.

The Central Bank of Nigeria outlawed the use of virtual currencies by Nigerian banks and financial organizations in 2021. However, in an effort to stem the popularity of cryptocurrency among Nigeria's tech-savvy people, the monetary authority introduced its own digital currency that same year.

The nation of Africa has warmly embraced cryptocurrency. Peer-to-peer trading was among the measures it took to get around the financial sector prohibition and was made possible by local cryptocurrency exchanges.

Following a crackdown by financial authorities in the US, Binance, the largest crypto trading platform in the world by volume, is experiencing similar problems. A new set of laws controlling the cryptocurrency industry in Canada was cited as a major factor in the exchange's decision to halt operations there earlier this month.

Read: US SEC files motion to freeze Binance assets over violations

  • Nigeria
  • Binance
  • Securities and Exchange Commission SEC
  • Cryptocurrency

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