In over 15 countries, Binance has been accused of fixing exchange rates and engaging in illegal transactions. In Nigeria, Binance has been accused of tax evasion, financing terrorist transactions, and money laundering, amongst others, even leading to the arrest of some of its officials.
Earlier this year, the government requested Binance pay $10 billion as retribution and provide the Economic and Financial Crimes Commission (EFCC) with comprehensive data or information on all persons from Nigeria trading on its platform.
A list of countries that have banned Binance:
- Canada
- China
- Japan
- Italy
- Philippines
- United States
- Australia
- India
- Iran
- Netherlands
- Germany
- Belgium
- Bangladesh
- France
- Vietnam
- Thailand
- Kazakhstan
- Malaysia
- United Kingdom
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.
