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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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