Binance Cuts Ties with 17 Crypto Platforms Amid Regulatory Crackdown

Binance has announced it will stop processing transactions involving 17 cryptocurrency platforms and service providers due to recent regulatory developments.

The restrictions, which affect entities in various countries including Nigeria, Georgia, Belarus, UAE, Iran, UK, Europe, and more, will take effect in phases across multiple countries.

The exchange did not specify the exact regulatory changes that prompted this move. However, Binance stated that it must comply with local regulations to maintain a 'safe and secure environment' for its users.

Affected entities include A7 Nigeria, Shelbit General Trading LLC in UAE and Iran, Aban Tether Exchange in Iran, and 13 others. Users have been advised not to engage in transactions involving these platforms after the respective effective dates.