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Nigeria’s President Bola Tinubu has signed a new law strengthening SEC oversight of cryptocurrencies and classifying them as securities. Nigeria‘s President Bola Ahmed Tinubu has signed the Investments and Securities Act 2024 into law, classifying cryptocurrencies as securities under the…
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Congressman French Hill is bringing Binance executive Tigran Gambaryan as his guest to the State of the Union address. Gambaryan spent eight months in a Nigerian prison on tax evasion and money laundering charges, which were later dropped. Gambaryan, a…
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Nigeria’s Federal government has launched another lawsuit against Binance amid a tussle over alleged illegal operations and unpaid taxes.
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Nigeria is preparing to tax cryptocurrency transactions as part of broader efforts to boost government revenue, according to the country’s Securities and Exchange Commission. A bill outlining the tax framework is under review and is expected to pass this quarter,…
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Binance executive Tigran Gambaryan is facing a $662,000 defamation lawsuit from a Nigerian lawmaker who denies allegations of bribery. Nigerian lawmaker Philip Agbese has filed a 1 billion Nigerian Naira (around $662,000) defamation lawsuit against Tigran Gambaryan, a Binance executive,…
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Wired’s article revealed text messages sent by Binance exec Tigran Gambaryan from Nigerian Prison during his 8-month detainment. Through text messages sent from a prison facility in Kuje, Nigeria, Gambaryan described his condition to journalist Andy Greenberg. He said that…
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The Economic and Financial Crimes Commission in Nigeria arrested 792 individuals allegedly involved in crypto investment and romance scams. The suspects, including 148 Chinese nationals, 40 Filipinos, and others from various countries, were apprehended on December 10, 2024, during a…
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Nigerian authorities have fined two crypto firms $30,000 for conducting USDT to naira transactions without a license. According to local Nigerian media outlet Nairametrics, the Federal High Court in Abuja convicted two crypto companies, Egomsinachi Road Autos Limited and Chimera…
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Cybernews researchers discovered a public AWS storage bucket exposing sensitive user data from Nigerian crypto exchange Bitnob. Nigerian crypto exchange Bitnob reportedly exposed over 250,000 Know Your Customer documents, including sensitive user data, due to a misconfigured Amazon Web Services…
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The United States and Nigeria have launched the Bilateral Liaison Group on Illicit Finance and Cryptocurrencies in an effort to counter cybercrime and illicit financial activities involving digital assets, such as cryptocurrency. This joint initiative, spearheaded by the U.S. Department…
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Nigerian authorities have dropped charges against Tigran Gambaryan, head of financial crime compliance at Binance, citing his ill health as the reason for discontinuing the case. Tigran Gambaryan, a former U.S. federal agent and Binance executive, has had charges against…
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A Nigerian court denied bail for Binance executive Tigran Gambaryan, who is facing money laundering charges, despite concerns over his deteriorating health. A Nigerian court on Friday, Oct. 11, rejected a bail application on medical grounds for Binance executive Tigran…
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During a recent AMA, Binance CEO Richard Teng addressed accusations of misusing Launchpool funds, discussed the HBO documentary on Bitcoin’s creator, and outlined the company’s efforts against crypto scams. During a question-and-answer session on X, Teng addressed allegations of using…
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Binance won’t consider complying with Nigeria’s digital asset regulations until its detained executive, Tigran Gambaryan, is released from custody. Speaking with Nairametrics, a Binance spokesperson laid out Gambaryan’s release as one of the two conditions that must be met before…
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The U.S. government is reportedly ramping up diplomatic efforts to secure the release of Tigran Gambaryan, a Binance employee detained in Nigeria since February 2024. Members of the U.S. government have reportedly held private conversations advocating for Gambaryan’s release with…
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Stablecoins settled $3.7 trillion in 2023 and are on pace to reach $5.28 trillion in 2024, with growing usage beyond exchange settlement, new research shows. Stablecoins continue to solidify their role in the global financial landscape, with settlement volumes reaching…
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A Nigerian high court heard arguments for and against the release of an imprisoned Binance employee days after CEO Richard Teng encouraged U.S. intervention. The trial of Binance executive Tigran Gambaryan resumed in Abuja on Sept. 2 as Nigerian prosecutors...
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Binance CEO Richard Teng is urging U.S. intervention as Tigran Gambaryan, an executive at the exchange, reaches six months in deteriorating conditions of Nigerian detention. Binance CEO Richard Teng has urged U.S. authorities and international advocates to intervene as Tigran...
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The Federal Inland Revenue Service, Nigeria’s tax authority, plans to introduce a bill to regulate the cryptocurrency sector by the end of 2024. Speaking at a recent stakeholder engagement session with the National Assembly’s Finance Committees, FIRS Executive Chairman Zacch...
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Binance exec Tigran Gambaryan is reportedly being denied legal counsel and healthcare while detained on criminal allegations in Nigeria. Gambaryan was wheeled into an Abuja court during his last hearing on July 16 after his health deteriorated while in Kuje...
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A Nigerian court has issued a bench warrant for the arrest of Dr. Abraham Ehizojie, a doctor at the Kuje Correctional Centre, currently holding Binance executive Tigran Gambaryan. Reports from local media state that Justice Emeka Nwite of the Federal...
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Nigeria’s Finance Minister, Wale Edun, has called for the creation of cryptocurrency regulations as the nation has been introduced to the newly inaugurated Securities and Exchange Commission (SEC) board. Local media quoted Edun urging the SEC to address the complexities...
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The National Information Technology Development Agency (NITDA) in Nigeria is looking to deploy research centers geared towards emerging technologies like Blockchain. The initiative was announced by the NITDA’s Director-General, Kashifu Inuw, at the IoT West Africa Conference in Lagos. According...
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Nigeria's Economic and Financial Crimes Commission (EFCC) chair, Olanipekun Olukoyede, advocates for the adoption of blockchain technology and artificial intelligence (AI) to combat illegal fund flows,
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Binance’s current legal turmoil with the Nigerian government has drawn the attention of the nation’s blockchain advocacy group, which has called for a balanced resolution. The Blockchain Industry Coordinating Committee of Nigeria (BICCoN) represents the nation’s blockchain sector. The group...
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U.S. lawmakers are urgently advocating for the release of Binance’s executive Tigran Gambaryan, saying he’s just caught in a Nigerian political dispute. Arkansas Republican Rep. French Hill keeps urging the Biden administration to secure the release of Tigran Gambaryan, a...
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Nigerian regulators mandate that all Virtual Asset Service Providers (VASPs) update their applications within 30 days to comply with revised regulations concerning digital asset issuance, offering platforms, exchange, and custody.
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U.S. legislators Chrissy Houlahan and French Hill recently called for the release of Tigran Gambaryan after visiting him in a Nigerian prison. The Binance executive is currently facing serious money laundering charges, which are alleged to be related to his...
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Nigeria has dropped the tax charges against two Binance executives, but one executive remains in custody despite health concerns. The Federal Inland Revenue Service (FIRS) of Nigeria has dropped its tax charges against Binance executives Tigran Gambaryan and Nadeem Anjarwalla,...
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Following calls from U.S. lawmakers urging President Joe Biden to bring detained Binance exec Tigran Gambaryan back home, Nigerian Minister of Information Mohammed Idris has responded. According to Idris’s statement, Gambaryan’s trial has adhered to all due processes at all...
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Noah Perlman, Binance’s Chief Compliance Officer, discussed the latest in the legal battle involving Nigeria and Binance executive Tigran Gambaryan. Perlman commented on the ongoing saga involving two Binance executives and the Nigerian government without giving much hope for a...
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Citing failure to bring Tigran Gambaryan to court, Nigerian court postpones a court hearing in the Binance tax evasion case until June. A Nigerian court has delayed proceedings in the tax evasion case against the Binance crypto exchange, rescheduling the...
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