Cryptocurrency exchange Binance has restricted transactions involving 17 crypto-asset service providers and platforms, including three entities linked to Nigeria.

The affected Nigerian-linked entities are A7 Nigeria, A7 Africa and PilotFinance Ltd.

Binance said transactions involving the affected platforms would no longer be processed as part of its latest compliance measures.

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The restrictions are being implemented in phases, with different dates applying to the various platforms.

The move comes amid increased regulatory and sanctions scrutiny of cryptocurrency transactions and digital-asset service providers across several jurisdictions.

The restrictions mean Binance users attempting to transact with any of the affected platforms through the exchange may no longer be able to complete such transactions.

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The development adds to growing efforts by cryptocurrency exchanges and regulators to strengthen compliance controls around digital-asset transactions and reduce exposure to regulatory and financial risks.

Binance’s latest action also highlights the increasing scrutiny facing cryptocurrency businesses as regulators across different countries tighten oversight of digital-asset activities.

For Nigerian users and crypto businesses linked to the affected platforms, the restrictions could affect their ability to process transactions through Binance.