Nairobi, April 22 -- Kenya has frozen an undisclosed number of Binance user accounts in its first major crackdown on the booming cryptocurrency industry amid global concerns that digital currencies are being used for fraud, money laundering, and financing terrorist activities.

The government has ordered Binance, the world's largest cryptocurrency exchange, to suspend the accounts for investigation.

Some Kenyan Binance users have reported that their accounts have been blocked without communication from the company, making them unable to convert their crypto holdings into cash.

Binance on Wednesday acknowledged the accounts freeze.

"Accounts restrictions may occur for a range of reasons for several reasons, "including adherence to appli...