The executives maintained their innocence, claiming they were not informed of any offenses committed. The judge adjourned the hearing to April 8, awaiting representation from the Office of the National Security Adviser (ONSA) and the EFCC.<\/p>\n\n\n\n
The detention of Binance executives occurred amidst Nigeria's crackdown on cryptocurrency trading platforms, which emerged as alternatives amidst chronic dollar shortages. Nigerian authorities charged Gambaryan and Anjarwalla, along with the company, with tax evasion. However, Anjarwalla fled the country, facing the possibility of an international arrest warrant.<\/p>\n\n\n\n
Despite the absence of representation from the Nigerian authorities during the hearing, the executives' legal battle persists. With the next court date set for April 8, the outcome remains uncertain.<\/p>\n","post_title":"Binance Executives Sue Nigerian Government For Detainment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-executives-sue-nigerian-government-for-detainment","to_ping":"","pinged":"\nhttps:\/\/nairametrics.com\/2024\/03\/28\/nsa-efcc-must-apologize-for-detaining-me-binance-executive-tells-nigerian-court\/","post_modified":"2024-04-03 19:26:56","post_modified_gmt":"2024-04-03 08:26:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16147","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
During a hearing before Judge Iyang Ekwo, Gambaryan argued that his detention and passport seizure violated his liberty as guaranteed by Nigeria's constitution.<\/p>\n\n\n\n
The executives maintained their innocence, claiming they were not informed of any offenses committed. The judge adjourned the hearing to April 8, awaiting representation from the Office of the National Security Adviser (ONSA) and the EFCC.<\/p>\n\n\n\n
The detention of Binance executives occurred amidst Nigeria's crackdown on cryptocurrency trading platforms, which emerged as alternatives amidst chronic dollar shortages. Nigerian authorities charged Gambaryan and Anjarwalla, along with the company, with tax evasion. However, Anjarwalla fled the country, facing the possibility of an international arrest warrant.<\/p>\n\n\n\n
Despite the absence of representation from the Nigerian authorities during the hearing, the executives' legal battle persists. With the next court date set for April 8, the outcome remains uncertain.<\/p>\n","post_title":"Binance Executives Sue Nigerian Government For Detainment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-executives-sue-nigerian-government-for-detainment","to_ping":"","pinged":"\nhttps:\/\/nairametrics.com\/2024\/03\/28\/nsa-efcc-must-apologize-for-detaining-me-binance-executive-tells-nigerian-court\/","post_modified":"2024-04-03 19:26:56","post_modified_gmt":"2024-04-03 08:26:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16147","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
During a hearing before Judge Iyang Ekwo, Gambaryan argued that his detention and passport seizure violated his liberty as guaranteed by Nigeria's constitution.<\/p>\n\n\n\n
The executives maintained their innocence, claiming they were not informed of any offenses committed. The judge adjourned the hearing to April 8, awaiting representation from the Office of the National Security Adviser (ONSA) and the EFCC.<\/p>\n\n\n\n
The detention of Binance executives occurred amidst Nigeria's crackdown on cryptocurrency trading platforms, which emerged as alternatives amidst chronic dollar shortages. Nigerian authorities charged Gambaryan and Anjarwalla, along with the company, with tax evasion. However, Anjarwalla fled the country, facing the possibility of an international arrest warrant.<\/p>\n\n\n\n
Despite the absence of representation from the Nigerian authorities during the hearing, the executives' legal battle persists. With the next court date set for April 8, the outcome remains uncertain.<\/p>\n","post_title":"Binance Executives Sue Nigerian Government For Detainment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-executives-sue-nigerian-government-for-detainment","to_ping":"","pinged":"\nhttps:\/\/nairametrics.com\/2024\/03\/28\/nsa-efcc-must-apologize-for-detaining-me-binance-executive-tells-nigerian-court\/","post_modified":"2024-04-03 19:26:56","post_modified_gmt":"2024-04-03 08:26:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16147","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
See Related: <\/em><\/strong>Binance In A Fresh Legal Battle As Nigeria Summons CEO Over $26M In Suspicious Flows<\/a><\/p>\n\n\n\n During a hearing before Judge Iyang Ekwo, Gambaryan argued that his detention and passport seizure violated his liberty as guaranteed by Nigeria's constitution.<\/p>\n\n\n\n The executives maintained their innocence, claiming they were not informed of any offenses committed. The judge adjourned the hearing to April 8, awaiting representation from the Office of the National Security Adviser (ONSA) and the EFCC.<\/p>\n\n\n\n The detention of Binance executives occurred amidst Nigeria's crackdown on cryptocurrency trading platforms, which emerged as alternatives amidst chronic dollar shortages. Nigerian authorities charged Gambaryan and Anjarwalla, along with the company, with tax evasion. However, Anjarwalla fled the country, facing the possibility of an international arrest warrant.<\/p>\n\n\n\n Despite the absence of representation from the Nigerian authorities during the hearing, the executives' legal battle persists. With the next court date set for April 8, the outcome remains uncertain.<\/p>\n","post_title":"Binance Executives Sue Nigerian Government For Detainment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-executives-sue-nigerian-government-for-detainment","to_ping":"","pinged":"\nhttps:\/\/nairametrics.com\/2024\/03\/28\/nsa-efcc-must-apologize-for-detaining-me-binance-executive-tells-nigerian-court\/","post_modified":"2024-04-03 19:26:56","post_modified_gmt":"2024-04-03 08:26:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16147","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
According to a report<\/a> by a local media publication, the executives accused the National Security Adviser's office and the Economic and Financial Crimes Commission (EFCC) of violating their fundamental human rights. The executives demanded their release, the return of their passports, and a public apology for their detainment.<\/p>\n\n\n\n See Related: <\/em><\/strong>Binance In A Fresh Legal Battle As Nigeria Summons CEO Over $26M In Suspicious Flows<\/a><\/p>\n\n\n\n During a hearing before Judge Iyang Ekwo, Gambaryan argued that his detention and passport seizure violated his liberty as guaranteed by Nigeria's constitution.<\/p>\n\n\n\n The executives maintained their innocence, claiming they were not informed of any offenses committed. The judge adjourned the hearing to April 8, awaiting representation from the Office of the National Security Adviser (ONSA) and the EFCC.<\/p>\n\n\n\n The detention of Binance executives occurred amidst Nigeria's crackdown on cryptocurrency trading platforms, which emerged as alternatives amidst chronic dollar shortages. Nigerian authorities charged Gambaryan and Anjarwalla, along with the company, with tax evasion. However, Anjarwalla fled the country, facing the possibility of an international arrest warrant.<\/p>\n\n\n\n Despite the absence of representation from the Nigerian authorities during the hearing, the executives' legal battle persists. With the next court date set for April 8, the outcome remains uncertain.<\/p>\n","post_title":"Binance Executives Sue Nigerian Government For Detainment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-executives-sue-nigerian-government-for-detainment","to_ping":"","pinged":"\nhttps:\/\/nairametrics.com\/2024\/03\/28\/nsa-efcc-must-apologize-for-detaining-me-binance-executive-tells-nigerian-court\/","post_modified":"2024-04-03 19:26:56","post_modified_gmt":"2024-04-03 08:26:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16147","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
The duo, hailing from diverse backgrounds, flew to Nigeria only to face detainment upon arrival on February 26. Tigran Gambaryan, Binance's head of financial crime compliance, and Nadeem Anjarwalla, the regional manager for Africa, took their fight to the Federal High Court in Abuja.<\/p>\n\n\n\n According to a report<\/a> by a local media publication, the executives accused the National Security Adviser's office and the Economic and Financial Crimes Commission (EFCC) of violating their fundamental human rights. The executives demanded their release, the return of their passports, and a public apology for their detainment.<\/p>\n\n\n\n See Related: <\/em><\/strong>Binance In A Fresh Legal Battle As Nigeria Summons CEO Over $26M In Suspicious Flows<\/a><\/p>\n\n\n\n During a hearing before Judge Iyang Ekwo, Gambaryan argued that his detention and passport seizure violated his liberty as guaranteed by Nigeria's constitution.<\/p>\n\n\n\n The executives maintained their innocence, claiming they were not informed of any offenses committed. The judge adjourned the hearing to April 8, awaiting representation from the Office of the National Security Adviser (ONSA) and the EFCC.<\/p>\n\n\n\n The detention of Binance executives occurred amidst Nigeria's crackdown on cryptocurrency trading platforms, which emerged as alternatives amidst chronic dollar shortages. Nigerian authorities charged Gambaryan and Anjarwalla, along with the company, with tax evasion. However, Anjarwalla fled the country, facing the possibility of an international arrest warrant.<\/p>\n\n\n\n Despite the absence of representation from the Nigerian authorities during the hearing, the executives' legal battle persists. With the next court date set for April 8, the outcome remains uncertain.<\/p>\n","post_title":"Binance Executives Sue Nigerian Government For Detainment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-executives-sue-nigerian-government-for-detainment","to_ping":"","pinged":"\nhttps:\/\/nairametrics.com\/2024\/03\/28\/nsa-efcc-must-apologize-for-detaining-me-binance-executive-tells-nigerian-court\/","post_modified":"2024-04-03 19:26:56","post_modified_gmt":"2024-04-03 08:26:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16147","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Binance's executives have launched a legal battle against Nigerian authorities. Tigran Gambaryan and Nadeem Anjarwalla found themselves entangled in a controversy after Nigeria banned several cryptocurrency trading websites.<\/p>\n\n\n\n The duo, hailing from diverse backgrounds, flew to Nigeria only to face detainment upon arrival on February 26. Tigran Gambaryan, Binance's head of financial crime compliance, and Nadeem Anjarwalla, the regional manager for Africa, took their fight to the Federal High Court in Abuja.<\/p>\n\n\n\n According to a report<\/a> by a local media publication, the executives accused the National Security Adviser's office and the Economic and Financial Crimes Commission (EFCC) of violating their fundamental human rights. The executives demanded their release, the return of their passports, and a public apology for their detainment.<\/p>\n\n\n\n See Related: <\/em><\/strong>Binance In A Fresh Legal Battle As Nigeria Summons CEO Over $26M In Suspicious Flows<\/a><\/p>\n\n\n\n During a hearing before Judge Iyang Ekwo, Gambaryan argued that his detention and passport seizure violated his liberty as guaranteed by Nigeria's constitution.<\/p>\n\n\n\n The executives maintained their innocence, claiming they were not informed of any offenses committed. The judge adjourned the hearing to April 8, awaiting representation from the Office of the National Security Adviser (ONSA) and the EFCC.<\/p>\n\n\n\n The detention of Binance executives occurred amidst Nigeria's crackdown on cryptocurrency trading platforms, which emerged as alternatives amidst chronic dollar shortages. Nigerian authorities charged Gambaryan and Anjarwalla, along with the company, with tax evasion. However, Anjarwalla fled the country, facing the possibility of an international arrest warrant.<\/p>\n\n\n\n Despite the absence of representation from the Nigerian authorities during the hearing, the executives' legal battle persists. With the next court date set for April 8, the outcome remains uncertain.<\/p>\n","post_title":"Binance Executives Sue Nigerian Government For Detainment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-executives-sue-nigerian-government-for-detainment","to_ping":"","pinged":"\nhttps:\/\/nairametrics.com\/2024\/03\/28\/nsa-efcc-must-apologize-for-detaining-me-binance-executive-tells-nigerian-court\/","post_modified":"2024-04-03 19:26:56","post_modified_gmt":"2024-04-03 08:26:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16147","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Binance's executives have launched a legal battle against Nigerian authorities. Tigran Gambaryan and Nadeem Anjarwalla found themselves entangled in a controversy after Nigeria banned several cryptocurrency trading websites.<\/p>\n\n\n\n The duo, hailing from diverse backgrounds, flew to Nigeria only to face detainment upon arrival on February 26. Tigran Gambaryan, Binance's head of financial crime compliance, and Nadeem Anjarwalla, the regional manager for Africa, took their fight to the Federal High Court in Abuja.<\/p>\n\n\n\n According to a report<\/a> by a local media publication, the executives accused the National Security Adviser's office and the Economic and Financial Crimes Commission (EFCC) of violating their fundamental human rights. The executives demanded their release, the return of their passports, and a public apology for their detainment.<\/p>\n\n\n\n See Related: <\/em><\/strong>Binance In A Fresh Legal Battle As Nigeria Summons CEO Over $26M In Suspicious Flows<\/a><\/p>\n\n\n\n During a hearing before Judge Iyang Ekwo, Gambaryan argued that his detention and passport seizure violated his liberty as guaranteed by Nigeria's constitution.<\/p>\n\n\n\n The executives maintained their innocence, claiming they were not informed of any offenses committed. The judge adjourned the hearing to April 8, awaiting representation from the Office of the National Security Adviser (ONSA) and the EFCC.<\/p>\n\n\n\n The detention of Binance executives occurred amidst Nigeria's crackdown on cryptocurrency trading platforms, which emerged as alternatives amidst chronic dollar shortages. Nigerian authorities charged Gambaryan and Anjarwalla, along with the company, with tax evasion. However, Anjarwalla fled the country, facing the possibility of an international arrest warrant.<\/p>\n\n\n\n Despite the absence of representation from the Nigerian authorities during the hearing, the executives' legal battle persists. With the next court date set for April 8, the outcome remains uncertain.<\/p>\n","post_title":"Binance Executives Sue Nigerian Government For Detainment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-executives-sue-nigerian-government-for-detainment","to_ping":"","pinged":"\nhttps:\/\/nairametrics.com\/2024\/03\/28\/nsa-efcc-must-apologize-for-detaining-me-binance-executive-tells-nigerian-court\/","post_modified":"2024-04-03 19:26:56","post_modified_gmt":"2024-04-03 08:26:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16147","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Binance's executives have launched a legal battle against Nigerian authorities. Tigran Gambaryan and Nadeem Anjarwalla found themselves entangled in a controversy after Nigeria banned several cryptocurrency trading websites.<\/p>\n\n\n\n The duo, hailing from diverse backgrounds, flew to Nigeria only to face detainment upon arrival on February 26. Tigran Gambaryan, Binance's head of financial crime compliance, and Nadeem Anjarwalla, the regional manager for Africa, took their fight to the Federal High Court in Abuja.<\/p>\n\n\n\n According to a report<\/a> by a local media publication, the executives accused the National Security Adviser's office and the Economic and Financial Crimes Commission (EFCC) of violating their fundamental human rights. The executives demanded their release, the return of their passports, and a public apology for their detainment.<\/p>\n\n\n\n See Related: <\/em><\/strong>Binance In A Fresh Legal Battle As Nigeria Summons CEO Over $26M In Suspicious Flows<\/a><\/p>\n\n\n\n During a hearing before Judge Iyang Ekwo, Gambaryan argued that his detention and passport seizure violated his liberty as guaranteed by Nigeria's constitution.<\/p>\n\n\n\n The executives maintained their innocence, claiming they were not informed of any offenses committed. The judge adjourned the hearing to April 8, awaiting representation from the Office of the National Security Adviser (ONSA) and the EFCC.<\/p>\n\n\n\n The detention of Binance executives occurred amidst Nigeria's crackdown on cryptocurrency trading platforms, which emerged as alternatives amidst chronic dollar shortages. Nigerian authorities charged Gambaryan and Anjarwalla, along with the company, with tax evasion. However, Anjarwalla fled the country, facing the possibility of an international arrest warrant.<\/p>\n\n\n\n Despite the absence of representation from the Nigerian authorities during the hearing, the executives' legal battle persists. With the next court date set for April 8, the outcome remains uncertain.<\/p>\n","post_title":"Binance Executives Sue Nigerian Government For Detainment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-executives-sue-nigerian-government-for-detainment","to_ping":"","pinged":"\nhttps:\/\/nairametrics.com\/2024\/03\/28\/nsa-efcc-must-apologize-for-detaining-me-binance-executive-tells-nigerian-court\/","post_modified":"2024-04-03 19:26:56","post_modified_gmt":"2024-04-03 08:26:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16147","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Binance's executives have launched a legal battle against Nigerian authorities. Tigran Gambaryan and Nadeem Anjarwalla found themselves entangled in a controversy after Nigeria banned several cryptocurrency trading websites.<\/p>\n\n\n\n The duo, hailing from diverse backgrounds, flew to Nigeria only to face detainment upon arrival on February 26. Tigran Gambaryan, Binance's head of financial crime compliance, and Nadeem Anjarwalla, the regional manager for Africa, took their fight to the Federal High Court in Abuja.<\/p>\n\n\n\n According to a report<\/a> by a local media publication, the executives accused the National Security Adviser's office and the Economic and Financial Crimes Commission (EFCC) of violating their fundamental human rights. The executives demanded their release, the return of their passports, and a public apology for their detainment.<\/p>\n\n\n\n See Related: <\/em><\/strong>Binance In A Fresh Legal Battle As Nigeria Summons CEO Over $26M In Suspicious Flows<\/a><\/p>\n\n\n\n During a hearing before Judge Iyang Ekwo, Gambaryan argued that his detention and passport seizure violated his liberty as guaranteed by Nigeria's constitution.<\/p>\n\n\n\n The executives maintained their innocence, claiming they were not informed of any offenses committed. The judge adjourned the hearing to April 8, awaiting representation from the Office of the National Security Adviser (ONSA) and the EFCC.<\/p>\n\n\n\n The detention of Binance executives occurred amidst Nigeria's crackdown on cryptocurrency trading platforms, which emerged as alternatives amidst chronic dollar shortages. Nigerian authorities charged Gambaryan and Anjarwalla, along with the company, with tax evasion. However, Anjarwalla fled the country, facing the possibility of an international arrest warrant.<\/p>\n\n\n\n Despite the absence of representation from the Nigerian authorities during the hearing, the executives' legal battle persists. With the next court date set for April 8, the outcome remains uncertain.<\/p>\n","post_title":"Binance Executives Sue Nigerian Government For Detainment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-executives-sue-nigerian-government-for-detainment","to_ping":"","pinged":"\nhttps:\/\/nairametrics.com\/2024\/03\/28\/nsa-efcc-must-apologize-for-detaining-me-binance-executive-tells-nigerian-court\/","post_modified":"2024-04-03 19:26:56","post_modified_gmt":"2024-04-03 08:26:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16147","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16147,"post_author":"1","post_date":"2024-04-03 19:24:16","post_date_gmt":"2024-04-03 08:24:16","post_content":"\n Binance's executives have launched a legal battle against Nigerian authorities. Tigran Gambaryan and Nadeem Anjarwalla found themselves entangled in a controversy after Nigeria banned several cryptocurrency trading websites.<\/p>\n\n\n\n The duo, hailing from diverse backgrounds, flew to Nigeria only to face detainment upon arrival on February 26. Tigran Gambaryan, Binance's head of financial crime compliance, and Nadeem Anjarwalla, the regional manager for Africa, took their fight to the Federal High Court in Abuja.<\/p>\n\n\n\n According to a report<\/a> by a local media publication, the executives accused the National Security Adviser's office and the Economic and Financial Crimes Commission (EFCC) of violating their fundamental human rights. The executives demanded their release, the return of their passports, and a public apology for their detainment.<\/p>\n\n\n\n See Related: <\/em><\/strong>Binance In A Fresh Legal Battle As Nigeria Summons CEO Over $26M In Suspicious Flows<\/a><\/p>\n\n\n\n During a hearing before Judge Iyang Ekwo, Gambaryan argued that his detention and passport seizure violated his liberty as guaranteed by Nigeria's constitution.<\/p>\n\n\n\n The executives maintained their innocence, claiming they were not informed of any offenses committed. The judge adjourned the hearing to April 8, awaiting representation from the Office of the National Security Adviser (ONSA) and the EFCC.<\/p>\n\n\n\n The detention of Binance executives occurred amidst Nigeria's crackdown on cryptocurrency trading platforms, which emerged as alternatives amidst chronic dollar shortages. Nigerian authorities charged Gambaryan and Anjarwalla, along with the company, with tax evasion. However, Anjarwalla fled the country, facing the possibility of an international arrest warrant.<\/p>\n\n\n\n Despite the absence of representation from the Nigerian authorities during the hearing, the executives' legal battle persists. With the next court date set for April 8, the outcome remains uncertain.<\/p>\n","post_title":"Binance Executives Sue Nigerian Government For Detainment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-executives-sue-nigerian-government-for-detainment","to_ping":"","pinged":"\nhttps:\/\/nairametrics.com\/2024\/03\/28\/nsa-efcc-must-apologize-for-detaining-me-binance-executive-tells-nigerian-court\/","post_modified":"2024-04-03 19:26:56","post_modified_gmt":"2024-04-03 08:26:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16147","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16147,"post_author":"1","post_date":"2024-04-03 19:24:16","post_date_gmt":"2024-04-03 08:24:16","post_content":"\n Binance's executives have launched a legal battle against Nigerian authorities. Tigran Gambaryan and Nadeem Anjarwalla found themselves entangled in a controversy after Nigeria banned several cryptocurrency trading websites.<\/p>\n\n\n\n The duo, hailing from diverse backgrounds, flew to Nigeria only to face detainment upon arrival on February 26. Tigran Gambaryan, Binance's head of financial crime compliance, and Nadeem Anjarwalla, the regional manager for Africa, took their fight to the Federal High Court in Abuja.<\/p>\n\n\n\n According to a report<\/a> by a local media publication, the executives accused the National Security Adviser's office and the Economic and Financial Crimes Commission (EFCC) of violating their fundamental human rights. The executives demanded their release, the return of their passports, and a public apology for their detainment.<\/p>\n\n\n\n See Related: <\/em><\/strong>Binance In A Fresh Legal Battle As Nigeria Summons CEO Over $26M In Suspicious Flows<\/a><\/p>\n\n\n\n During a hearing before Judge Iyang Ekwo, Gambaryan argued that his detention and passport seizure violated his liberty as guaranteed by Nigeria's constitution.<\/p>\n\n\n\n The executives maintained their innocence, claiming they were not informed of any offenses committed. The judge adjourned the hearing to April 8, awaiting representation from the Office of the National Security Adviser (ONSA) and the EFCC.<\/p>\n\n\n\n The detention of Binance executives occurred amidst Nigeria's crackdown on cryptocurrency trading platforms, which emerged as alternatives amidst chronic dollar shortages. Nigerian authorities charged Gambaryan and Anjarwalla, along with the company, with tax evasion. However, Anjarwalla fled the country, facing the possibility of an international arrest warrant.<\/p>\n\n\n\n Despite the absence of representation from the Nigerian authorities during the hearing, the executives' legal battle persists. With the next court date set for April 8, the outcome remains uncertain.<\/p>\n","post_title":"Binance Executives Sue Nigerian Government For Detainment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-executives-sue-nigerian-government-for-detainment","to_ping":"","pinged":"\nhttps:\/\/nairametrics.com\/2024\/03\/28\/nsa-efcc-must-apologize-for-detaining-me-binance-executive-tells-nigerian-court\/","post_modified":"2024-04-03 19:26:56","post_modified_gmt":"2024-04-03 08:26:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16147","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16147,"post_author":"1","post_date":"2024-04-03 19:24:16","post_date_gmt":"2024-04-03 08:24:16","post_content":"\n Binance's executives have launched a legal battle against Nigerian authorities. Tigran Gambaryan and Nadeem Anjarwalla found themselves entangled in a controversy after Nigeria banned several cryptocurrency trading websites.<\/p>\n\n\n\n The duo, hailing from diverse backgrounds, flew to Nigeria only to face detainment upon arrival on February 26. Tigran Gambaryan, Binance's head of financial crime compliance, and Nadeem Anjarwalla, the regional manager for Africa, took their fight to the Federal High Court in Abuja.<\/p>\n\n\n\n According to a report<\/a> by a local media publication, the executives accused the National Security Adviser's office and the Economic and Financial Crimes Commission (EFCC) of violating their fundamental human rights. The executives demanded their release, the return of their passports, and a public apology for their detainment.<\/p>\n\n\n\n See Related: <\/em><\/strong>Binance In A Fresh Legal Battle As Nigeria Summons CEO Over $26M In Suspicious Flows<\/a><\/p>\n\n\n\n During a hearing before Judge Iyang Ekwo, Gambaryan argued that his detention and passport seizure violated his liberty as guaranteed by Nigeria's constitution.<\/p>\n\n\n\n The executives maintained their innocence, claiming they were not informed of any offenses committed. The judge adjourned the hearing to April 8, awaiting representation from the Office of the National Security Adviser (ONSA) and the EFCC.<\/p>\n\n\n\n The detention of Binance executives occurred amidst Nigeria's crackdown on cryptocurrency trading platforms, which emerged as alternatives amidst chronic dollar shortages. Nigerian authorities charged Gambaryan and Anjarwalla, along with the company, with tax evasion. However, Anjarwalla fled the country, facing the possibility of an international arrest warrant.<\/p>\n\n\n\n Despite the absence of representation from the Nigerian authorities during the hearing, the executives' legal battle persists. With the next court date set for April 8, the outcome remains uncertain.<\/p>\n","post_title":"Binance Executives Sue Nigerian Government For Detainment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-executives-sue-nigerian-government-for-detainment","to_ping":"","pinged":"\nhttps:\/\/nairametrics.com\/2024\/03\/28\/nsa-efcc-must-apologize-for-detaining-me-binance-executive-tells-nigerian-court\/","post_modified":"2024-04-03 19:26:56","post_modified_gmt":"2024-04-03 08:26:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16147","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16147,"post_author":"1","post_date":"2024-04-03 19:24:16","post_date_gmt":"2024-04-03 08:24:16","post_content":"\n Binance's executives have launched a legal battle against Nigerian authorities. Tigran Gambaryan and Nadeem Anjarwalla found themselves entangled in a controversy after Nigeria banned several cryptocurrency trading websites.<\/p>\n\n\n\n The duo, hailing from diverse backgrounds, flew to Nigeria only to face detainment upon arrival on February 26. Tigran Gambaryan, Binance's head of financial crime compliance, and Nadeem Anjarwalla, the regional manager for Africa, took their fight to the Federal High Court in Abuja.<\/p>\n\n\n\n According to a report<\/a> by a local media publication, the executives accused the National Security Adviser's office and the Economic and Financial Crimes Commission (EFCC) of violating their fundamental human rights. The executives demanded their release, the return of their passports, and a public apology for their detainment.<\/p>\n\n\n\n See Related: <\/em><\/strong>Binance In A Fresh Legal Battle As Nigeria Summons CEO Over $26M In Suspicious Flows<\/a><\/p>\n\n\n\n During a hearing before Judge Iyang Ekwo, Gambaryan argued that his detention and passport seizure violated his liberty as guaranteed by Nigeria's constitution.<\/p>\n\n\n\n The executives maintained their innocence, claiming they were not informed of any offenses committed. The judge adjourned the hearing to April 8, awaiting representation from the Office of the National Security Adviser (ONSA) and the EFCC.<\/p>\n\n\n\n The detention of Binance executives occurred amidst Nigeria's crackdown on cryptocurrency trading platforms, which emerged as alternatives amidst chronic dollar shortages. Nigerian authorities charged Gambaryan and Anjarwalla, along with the company, with tax evasion. However, Anjarwalla fled the country, facing the possibility of an international arrest warrant.<\/p>\n\n\n\n Despite the absence of representation from the Nigerian authorities during the hearing, the executives' legal battle persists. With the next court date set for April 8, the outcome remains uncertain.<\/p>\n","post_title":"Binance Executives Sue Nigerian Government For Detainment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-executives-sue-nigerian-government-for-detainment","to_ping":"","pinged":"\nhttps:\/\/nairametrics.com\/2024\/03\/28\/nsa-efcc-must-apologize-for-detaining-me-binance-executive-tells-nigerian-court\/","post_modified":"2024-04-03 19:26:56","post_modified_gmt":"2024-04-03 08:26:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16147","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
See Related:<\/em><\/strong> Indian Parliament Passes A 30% Crypto Tax Law<\/a><\/p>\n\n\n\n Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16147,"post_author":"1","post_date":"2024-04-03 19:24:16","post_date_gmt":"2024-04-03 08:24:16","post_content":"\n Binance's executives have launched a legal battle against Nigerian authorities. Tigran Gambaryan and Nadeem Anjarwalla found themselves entangled in a controversy after Nigeria banned several cryptocurrency trading websites.<\/p>\n\n\n\n The duo, hailing from diverse backgrounds, flew to Nigeria only to face detainment upon arrival on February 26. Tigran Gambaryan, Binance's head of financial crime compliance, and Nadeem Anjarwalla, the regional manager for Africa, took their fight to the Federal High Court in Abuja.<\/p>\n\n\n\n According to a report<\/a> by a local media publication, the executives accused the National Security Adviser's office and the Economic and Financial Crimes Commission (EFCC) of violating their fundamental human rights. The executives demanded their release, the return of their passports, and a public apology for their detainment.<\/p>\n\n\n\n See Related: <\/em><\/strong>Binance In A Fresh Legal Battle As Nigeria Summons CEO Over $26M In Suspicious Flows<\/a><\/p>\n\n\n\n During a hearing before Judge Iyang Ekwo, Gambaryan argued that his detention and passport seizure violated his liberty as guaranteed by Nigeria's constitution.<\/p>\n\n\n\n The executives maintained their innocence, claiming they were not informed of any offenses committed. The judge adjourned the hearing to April 8, awaiting representation from the Office of the National Security Adviser (ONSA) and the EFCC.<\/p>\n\n\n\n The detention of Binance executives occurred amidst Nigeria's crackdown on cryptocurrency trading platforms, which emerged as alternatives amidst chronic dollar shortages. Nigerian authorities charged Gambaryan and Anjarwalla, along with the company, with tax evasion. However, Anjarwalla fled the country, facing the possibility of an international arrest warrant.<\/p>\n\n\n\n Despite the absence of representation from the Nigerian authorities during the hearing, the executives' legal battle persists. With the next court date set for April 8, the outcome remains uncertain.<\/p>\n","post_title":"Binance Executives Sue Nigerian Government For Detainment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-executives-sue-nigerian-government-for-detainment","to_ping":"","pinged":"\nhttps:\/\/nairametrics.com\/2024\/03\/28\/nsa-efcc-must-apologize-for-detaining-me-binance-executive-tells-nigerian-court\/","post_modified":"2024-04-03 19:26:56","post_modified_gmt":"2024-04-03 08:26:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16147","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
The move comes as part of Binance's efforts to align with India's financial regulations, including adherence to anti-money laundering and taxation statutes. Before the crackdown, Binance held a commanding presence in the Indian market, with an estimated 90% of crypto holdings among Indian investors, totaling about $4 billion.<\/p>\n\n\n\n See Related:<\/em><\/strong> Indian Parliament Passes A 30% Crypto Tax Law<\/a><\/p>\n\n\n\n Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16147,"post_author":"1","post_date":"2024-04-03 19:24:16","post_date_gmt":"2024-04-03 08:24:16","post_content":"\n Binance's executives have launched a legal battle against Nigerian authorities. Tigran Gambaryan and Nadeem Anjarwalla found themselves entangled in a controversy after Nigeria banned several cryptocurrency trading websites.<\/p>\n\n\n\n The duo, hailing from diverse backgrounds, flew to Nigeria only to face detainment upon arrival on February 26. Tigran Gambaryan, Binance's head of financial crime compliance, and Nadeem Anjarwalla, the regional manager for Africa, took their fight to the Federal High Court in Abuja.<\/p>\n\n\n\n According to a report<\/a> by a local media publication, the executives accused the National Security Adviser's office and the Economic and Financial Crimes Commission (EFCC) of violating their fundamental human rights. The executives demanded their release, the return of their passports, and a public apology for their detainment.<\/p>\n\n\n\n See Related: <\/em><\/strong>Binance In A Fresh Legal Battle As Nigeria Summons CEO Over $26M In Suspicious Flows<\/a><\/p>\n\n\n\n During a hearing before Judge Iyang Ekwo, Gambaryan argued that his detention and passport seizure violated his liberty as guaranteed by Nigeria's constitution.<\/p>\n\n\n\n The executives maintained their innocence, claiming they were not informed of any offenses committed. The judge adjourned the hearing to April 8, awaiting representation from the Office of the National Security Adviser (ONSA) and the EFCC.<\/p>\n\n\n\n The detention of Binance executives occurred amidst Nigeria's crackdown on cryptocurrency trading platforms, which emerged as alternatives amidst chronic dollar shortages. Nigerian authorities charged Gambaryan and Anjarwalla, along with the company, with tax evasion. However, Anjarwalla fled the country, facing the possibility of an international arrest warrant.<\/p>\n\n\n\n Despite the absence of representation from the Nigerian authorities during the hearing, the executives' legal battle persists. With the next court date set for April 8, the outcome remains uncertain.<\/p>\n","post_title":"Binance Executives Sue Nigerian Government For Detainment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-executives-sue-nigerian-government-for-detainment","to_ping":"","pinged":"\nhttps:\/\/nairametrics.com\/2024\/03\/28\/nsa-efcc-must-apologize-for-detaining-me-binance-executive-tells-nigerian-court\/","post_modified":"2024-04-03 19:26:56","post_modified_gmt":"2024-04-03 08:26:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16147","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
According to the Economic Times<\/a>, sources close to the matter indicate that Binance is restructuring its operations in South Asia. The cryptocurrency exchange is planning to fully comply with the Financial Intelligence Unit of India, which regulates the local trading of digital assets.<\/p>\n\n\n\n The move comes as part of Binance's efforts to align with India's financial regulations, including adherence to anti-money laundering and taxation statutes. Before the crackdown, Binance held a commanding presence in the Indian market, with an estimated 90% of crypto holdings among Indian investors, totaling about $4 billion.<\/p>\n\n\n\n See Related:<\/em><\/strong> Indian Parliament Passes A 30% Crypto Tax Law<\/a><\/p>\n\n\n\n Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16147,"post_author":"1","post_date":"2024-04-03 19:24:16","post_date_gmt":"2024-04-03 08:24:16","post_content":"\n Binance's executives have launched a legal battle against Nigerian authorities. Tigran Gambaryan and Nadeem Anjarwalla found themselves entangled in a controversy after Nigeria banned several cryptocurrency trading websites.<\/p>\n\n\n\n The duo, hailing from diverse backgrounds, flew to Nigeria only to face detainment upon arrival on February 26. Tigran Gambaryan, Binance's head of financial crime compliance, and Nadeem Anjarwalla, the regional manager for Africa, took their fight to the Federal High Court in Abuja.<\/p>\n\n\n\n According to a report<\/a> by a local media publication, the executives accused the National Security Adviser's office and the Economic and Financial Crimes Commission (EFCC) of violating their fundamental human rights. The executives demanded their release, the return of their passports, and a public apology for their detainment.<\/p>\n\n\n\n See Related: <\/em><\/strong>Binance In A Fresh Legal Battle As Nigeria Summons CEO Over $26M In Suspicious Flows<\/a><\/p>\n\n\n\n During a hearing before Judge Iyang Ekwo, Gambaryan argued that his detention and passport seizure violated his liberty as guaranteed by Nigeria's constitution.<\/p>\n\n\n\n The executives maintained their innocence, claiming they were not informed of any offenses committed. The judge adjourned the hearing to April 8, awaiting representation from the Office of the National Security Adviser (ONSA) and the EFCC.<\/p>\n\n\n\n The detention of Binance executives occurred amidst Nigeria's crackdown on cryptocurrency trading platforms, which emerged as alternatives amidst chronic dollar shortages. Nigerian authorities charged Gambaryan and Anjarwalla, along with the company, with tax evasion. However, Anjarwalla fled the country, facing the possibility of an international arrest warrant.<\/p>\n\n\n\n Despite the absence of representation from the Nigerian authorities during the hearing, the executives' legal battle persists. With the next court date set for April 8, the outcome remains uncertain.<\/p>\n","post_title":"Binance Executives Sue Nigerian Government For Detainment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-executives-sue-nigerian-government-for-detainment","to_ping":"","pinged":"\nhttps:\/\/nairametrics.com\/2024\/03\/28\/nsa-efcc-must-apologize-for-detaining-me-binance-executive-tells-nigerian-court\/","post_modified":"2024-04-03 19:26:56","post_modified_gmt":"2024-04-03 08:26:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16147","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Binance, the leading global cryptocurrency exchange, is set to make a comeback in India after agreeing to pay a $2 million penalty. This development follows a period of stringent regulatory scrutiny where the Indian government blocked nine cryptocurrency websites. They also prompted the removal of related apps from Apple and Google stores due to non-compliance with local laws. <\/p>\n\n\n\n According to the Economic Times<\/a>, sources close to the matter indicate that Binance is restructuring its operations in South Asia. The cryptocurrency exchange is planning to fully comply with the Financial Intelligence Unit of India, which regulates the local trading of digital assets.<\/p>\n\n\n\n The move comes as part of Binance's efforts to align with India's financial regulations, including adherence to anti-money laundering and taxation statutes. Before the crackdown, Binance held a commanding presence in the Indian market, with an estimated 90% of crypto holdings among Indian investors, totaling about $4 billion.<\/p>\n\n\n\n See Related:<\/em><\/strong> Indian Parliament Passes A 30% Crypto Tax Law<\/a><\/p>\n\n\n\n Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16147,"post_author":"1","post_date":"2024-04-03 19:24:16","post_date_gmt":"2024-04-03 08:24:16","post_content":"\n Binance's executives have launched a legal battle against Nigerian authorities. Tigran Gambaryan and Nadeem Anjarwalla found themselves entangled in a controversy after Nigeria banned several cryptocurrency trading websites.<\/p>\n\n\n\n The duo, hailing from diverse backgrounds, flew to Nigeria only to face detainment upon arrival on February 26. Tigran Gambaryan, Binance's head of financial crime compliance, and Nadeem Anjarwalla, the regional manager for Africa, took their fight to the Federal High Court in Abuja.<\/p>\n\n\n\n According to a report<\/a> by a local media publication, the executives accused the National Security Adviser's office and the Economic and Financial Crimes Commission (EFCC) of violating their fundamental human rights. The executives demanded their release, the return of their passports, and a public apology for their detainment.<\/p>\n\n\n\n See Related: <\/em><\/strong>Binance In A Fresh Legal Battle As Nigeria Summons CEO Over $26M In Suspicious Flows<\/a><\/p>\n\n\n\n During a hearing before Judge Iyang Ekwo, Gambaryan argued that his detention and passport seizure violated his liberty as guaranteed by Nigeria's constitution.<\/p>\n\n\n\n The executives maintained their innocence, claiming they were not informed of any offenses committed. The judge adjourned the hearing to April 8, awaiting representation from the Office of the National Security Adviser (ONSA) and the EFCC.<\/p>\n\n\n\n The detention of Binance executives occurred amidst Nigeria's crackdown on cryptocurrency trading platforms, which emerged as alternatives amidst chronic dollar shortages. Nigerian authorities charged Gambaryan and Anjarwalla, along with the company, with tax evasion. However, Anjarwalla fled the country, facing the possibility of an international arrest warrant.<\/p>\n\n\n\n Despite the absence of representation from the Nigerian authorities during the hearing, the executives' legal battle persists. With the next court date set for April 8, the outcome remains uncertain.<\/p>\n","post_title":"Binance Executives Sue Nigerian Government For Detainment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-executives-sue-nigerian-government-for-detainment","to_ping":"","pinged":"\nhttps:\/\/nairametrics.com\/2024\/03\/28\/nsa-efcc-must-apologize-for-detaining-me-binance-executive-tells-nigerian-court\/","post_modified":"2024-04-03 19:26:56","post_modified_gmt":"2024-04-03 08:26:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16147","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Gambaryan has also sued the government for violating his fundamental human rights. His motion claims that his detention and passport confiscation violate Nigeria's constitution, which guarantees personal liberty. As the case unfolds, stakeholders await further developments and potential implications for the crypto industry in Nigeria and beyond.<\/p>\n","post_title":"Binance Tax Evasion Trial Adjourned To May 17 In Nigeria","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-tax-evasion-trial-adjourned-to-may-17-in-nigeria","to_ping":"","pinged":"","post_modified":"2024-06-23 03:14:09","post_modified_gmt":"2024-06-22 17:14:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16506","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16460,"post_author":"15","post_date":"2024-04-19 23:38:06","post_date_gmt":"2024-04-19 13:38:06","post_content":"\n Binance, the leading global cryptocurrency exchange, is set to make a comeback in India after agreeing to pay a $2 million penalty. This development follows a period of stringent regulatory scrutiny where the Indian government blocked nine cryptocurrency websites. They also prompted the removal of related apps from Apple and Google stores due to non-compliance with local laws. <\/p>\n\n\n\n According to the Economic Times<\/a>, sources close to the matter indicate that Binance is restructuring its operations in South Asia. The cryptocurrency exchange is planning to fully comply with the Financial Intelligence Unit of India, which regulates the local trading of digital assets.<\/p>\n\n\n\n The move comes as part of Binance's efforts to align with India's financial regulations, including adherence to anti-money laundering and taxation statutes. Before the crackdown, Binance held a commanding presence in the Indian market, with an estimated 90% of crypto holdings among Indian investors, totaling about $4 billion.<\/p>\n\n\n\n See Related:<\/em><\/strong> Indian Parliament Passes A 30% Crypto Tax Law<\/a><\/p>\n\n\n\n Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16147,"post_author":"1","post_date":"2024-04-03 19:24:16","post_date_gmt":"2024-04-03 08:24:16","post_content":"\n Binance's executives have launched a legal battle against Nigerian authorities. Tigran Gambaryan and Nadeem Anjarwalla found themselves entangled in a controversy after Nigeria banned several cryptocurrency trading websites.<\/p>\n\n\n\n The duo, hailing from diverse backgrounds, flew to Nigeria only to face detainment upon arrival on February 26. Tigran Gambaryan, Binance's head of financial crime compliance, and Nadeem Anjarwalla, the regional manager for Africa, took their fight to the Federal High Court in Abuja.<\/p>\n\n\n\n According to a report<\/a> by a local media publication, the executives accused the National Security Adviser's office and the Economic and Financial Crimes Commission (EFCC) of violating their fundamental human rights. The executives demanded their release, the return of their passports, and a public apology for their detainment.<\/p>\n\n\n\n See Related: <\/em><\/strong>Binance In A Fresh Legal Battle As Nigeria Summons CEO Over $26M In Suspicious Flows<\/a><\/p>\n\n\n\n During a hearing before Judge Iyang Ekwo, Gambaryan argued that his detention and passport seizure violated his liberty as guaranteed by Nigeria's constitution.<\/p>\n\n\n\n The executives maintained their innocence, claiming they were not informed of any offenses committed. The judge adjourned the hearing to April 8, awaiting representation from the Office of the National Security Adviser (ONSA) and the EFCC.<\/p>\n\n\n\n The detention of Binance executives occurred amidst Nigeria's crackdown on cryptocurrency trading platforms, which emerged as alternatives amidst chronic dollar shortages. Nigerian authorities charged Gambaryan and Anjarwalla, along with the company, with tax evasion. However, Anjarwalla fled the country, facing the possibility of an international arrest warrant.<\/p>\n\n\n\n Despite the absence of representation from the Nigerian authorities during the hearing, the executives' legal battle persists. With the next court date set for April 8, the outcome remains uncertain.<\/p>\n","post_title":"Binance Executives Sue Nigerian Government For Detainment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-executives-sue-nigerian-government-for-detainment","to_ping":"","pinged":"\nhttps:\/\/nairametrics.com\/2024\/03\/28\/nsa-efcc-must-apologize-for-detaining-me-binance-executive-tells-nigerian-court\/","post_modified":"2024-04-03 19:26:56","post_modified_gmt":"2024-04-03 08:26:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16147","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Despite not being represented in court, Binance stated that it is working closely with Nigerian authorities following Gambaryan's detention. However, the legal battle continues as Gambaryan remains in custody, with his bail application hearing postponed.<\/p>\n\n\n\n Gambaryan has also sued the government for violating his fundamental human rights. His motion claims that his detention and passport confiscation violate Nigeria's constitution, which guarantees personal liberty. As the case unfolds, stakeholders await further developments and potential implications for the crypto industry in Nigeria and beyond.<\/p>\n","post_title":"Binance Tax Evasion Trial Adjourned To May 17 In Nigeria","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-tax-evasion-trial-adjourned-to-may-17-in-nigeria","to_ping":"","pinged":"","post_modified":"2024-06-23 03:14:09","post_modified_gmt":"2024-06-22 17:14:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16506","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16460,"post_author":"15","post_date":"2024-04-19 23:38:06","post_date_gmt":"2024-04-19 13:38:06","post_content":"\n Binance, the leading global cryptocurrency exchange, is set to make a comeback in India after agreeing to pay a $2 million penalty. This development follows a period of stringent regulatory scrutiny where the Indian government blocked nine cryptocurrency websites. They also prompted the removal of related apps from Apple and Google stores due to non-compliance with local laws. <\/p>\n\n\n\n According to the Economic Times<\/a>, sources close to the matter indicate that Binance is restructuring its operations in South Asia. The cryptocurrency exchange is planning to fully comply with the Financial Intelligence Unit of India, which regulates the local trading of digital assets.<\/p>\n\n\n\n The move comes as part of Binance's efforts to align with India's financial regulations, including adherence to anti-money laundering and taxation statutes. Before the crackdown, Binance held a commanding presence in the Indian market, with an estimated 90% of crypto holdings among Indian investors, totaling about $4 billion.<\/p>\n\n\n\n See Related:<\/em><\/strong> Indian Parliament Passes A 30% Crypto Tax Law<\/a><\/p>\n\n\n\n Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16147,"post_author":"1","post_date":"2024-04-03 19:24:16","post_date_gmt":"2024-04-03 08:24:16","post_content":"\n Binance's executives have launched a legal battle against Nigerian authorities. Tigran Gambaryan and Nadeem Anjarwalla found themselves entangled in a controversy after Nigeria banned several cryptocurrency trading websites.<\/p>\n\n\n\n The duo, hailing from diverse backgrounds, flew to Nigeria only to face detainment upon arrival on February 26. Tigran Gambaryan, Binance's head of financial crime compliance, and Nadeem Anjarwalla, the regional manager for Africa, took their fight to the Federal High Court in Abuja.<\/p>\n\n\n\n According to a report<\/a> by a local media publication, the executives accused the National Security Adviser's office and the Economic and Financial Crimes Commission (EFCC) of violating their fundamental human rights. The executives demanded their release, the return of their passports, and a public apology for their detainment.<\/p>\n\n\n\n See Related: <\/em><\/strong>Binance In A Fresh Legal Battle As Nigeria Summons CEO Over $26M In Suspicious Flows<\/a><\/p>\n\n\n\n During a hearing before Judge Iyang Ekwo, Gambaryan argued that his detention and passport seizure violated his liberty as guaranteed by Nigeria's constitution.<\/p>\n\n\n\n The executives maintained their innocence, claiming they were not informed of any offenses committed. The judge adjourned the hearing to April 8, awaiting representation from the Office of the National Security Adviser (ONSA) and the EFCC.<\/p>\n\n\n\n The detention of Binance executives occurred amidst Nigeria's crackdown on cryptocurrency trading platforms, which emerged as alternatives amidst chronic dollar shortages. Nigerian authorities charged Gambaryan and Anjarwalla, along with the company, with tax evasion. However, Anjarwalla fled the country, facing the possibility of an international arrest warrant.<\/p>\n\n\n\n Despite the absence of representation from the Nigerian authorities during the hearing, the executives' legal battle persists. With the next court date set for April 8, the outcome remains uncertain.<\/p>\n","post_title":"Binance Executives Sue Nigerian Government For Detainment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-executives-sue-nigerian-government-for-detainment","to_ping":"","pinged":"\nhttps:\/\/nairametrics.com\/2024\/03\/28\/nsa-efcc-must-apologize-for-detaining-me-binance-executive-tells-nigerian-court\/","post_modified":"2024-04-03 19:26:56","post_modified_gmt":"2024-04-03 08:26:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16147","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
In addition to the tax evasion trial, Binance and its executives face charges of laundering over $35 million brought by Nigeria's anti-graft agency, the Economic and Financial Crimes Commission. This trial is scheduled to resume on May 2.<\/p>\n\n\n\n Despite not being represented in court, Binance stated that it is working closely with Nigerian authorities following Gambaryan's detention. However, the legal battle continues as Gambaryan remains in custody, with his bail application hearing postponed.<\/p>\n\n\n\n Gambaryan has also sued the government for violating his fundamental human rights. His motion claims that his detention and passport confiscation violate Nigeria's constitution, which guarantees personal liberty. As the case unfolds, stakeholders await further developments and potential implications for the crypto industry in Nigeria and beyond.<\/p>\n","post_title":"Binance Tax Evasion Trial Adjourned To May 17 In Nigeria","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-tax-evasion-trial-adjourned-to-may-17-in-nigeria","to_ping":"","pinged":"","post_modified":"2024-06-23 03:14:09","post_modified_gmt":"2024-06-22 17:14:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16506","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16460,"post_author":"15","post_date":"2024-04-19 23:38:06","post_date_gmt":"2024-04-19 13:38:06","post_content":"\n Binance, the leading global cryptocurrency exchange, is set to make a comeback in India after agreeing to pay a $2 million penalty. This development follows a period of stringent regulatory scrutiny where the Indian government blocked nine cryptocurrency websites. They also prompted the removal of related apps from Apple and Google stores due to non-compliance with local laws. <\/p>\n\n\n\n According to the Economic Times<\/a>, sources close to the matter indicate that Binance is restructuring its operations in South Asia. The cryptocurrency exchange is planning to fully comply with the Financial Intelligence Unit of India, which regulates the local trading of digital assets.<\/p>\n\n\n\n The move comes as part of Binance's efforts to align with India's financial regulations, including adherence to anti-money laundering and taxation statutes. Before the crackdown, Binance held a commanding presence in the Indian market, with an estimated 90% of crypto holdings among Indian investors, totaling about $4 billion.<\/p>\n\n\n\n See Related:<\/em><\/strong> Indian Parliament Passes A 30% Crypto Tax Law<\/a><\/p>\n\n\n\n Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16147,"post_author":"1","post_date":"2024-04-03 19:24:16","post_date_gmt":"2024-04-03 08:24:16","post_content":"\n Binance's executives have launched a legal battle against Nigerian authorities. Tigran Gambaryan and Nadeem Anjarwalla found themselves entangled in a controversy after Nigeria banned several cryptocurrency trading websites.<\/p>\n\n\n\n The duo, hailing from diverse backgrounds, flew to Nigeria only to face detainment upon arrival on February 26. Tigran Gambaryan, Binance's head of financial crime compliance, and Nadeem Anjarwalla, the regional manager for Africa, took their fight to the Federal High Court in Abuja.<\/p>\n\n\n\n According to a report<\/a> by a local media publication, the executives accused the National Security Adviser's office and the Economic and Financial Crimes Commission (EFCC) of violating their fundamental human rights. The executives demanded their release, the return of their passports, and a public apology for their detainment.<\/p>\n\n\n\n See Related: <\/em><\/strong>Binance In A Fresh Legal Battle As Nigeria Summons CEO Over $26M In Suspicious Flows<\/a><\/p>\n\n\n\n During a hearing before Judge Iyang Ekwo, Gambaryan argued that his detention and passport seizure violated his liberty as guaranteed by Nigeria's constitution.<\/p>\n\n\n\n The executives maintained their innocence, claiming they were not informed of any offenses committed. The judge adjourned the hearing to April 8, awaiting representation from the Office of the National Security Adviser (ONSA) and the EFCC.<\/p>\n\n\n\n The detention of Binance executives occurred amidst Nigeria's crackdown on cryptocurrency trading platforms, which emerged as alternatives amidst chronic dollar shortages. Nigerian authorities charged Gambaryan and Anjarwalla, along with the company, with tax evasion. However, Anjarwalla fled the country, facing the possibility of an international arrest warrant.<\/p>\n\n\n\n Despite the absence of representation from the Nigerian authorities during the hearing, the executives' legal battle persists. With the next court date set for April 8, the outcome remains uncertain.<\/p>\n","post_title":"Binance Executives Sue Nigerian Government For Detainment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-executives-sue-nigerian-government-for-detainment","to_ping":"","pinged":"\nhttps:\/\/nairametrics.com\/2024\/03\/28\/nsa-efcc-must-apologize-for-detaining-me-binance-executive-tells-nigerian-court\/","post_modified":"2024-04-03 19:26:56","post_modified_gmt":"2024-04-03 08:26:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16147","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
In addition to the tax evasion trial, Binance and its executives face charges of laundering over $35 million brought by Nigeria's anti-graft agency, the Economic and Financial Crimes Commission. This trial is scheduled to resume on May 2.<\/p>\n\n\n\n Despite not being represented in court, Binance stated that it is working closely with Nigerian authorities following Gambaryan's detention. However, the legal battle continues as Gambaryan remains in custody, with his bail application hearing postponed.<\/p>\n\n\n\n Gambaryan has also sued the government for violating his fundamental human rights. His motion claims that his detention and passport confiscation violate Nigeria's constitution, which guarantees personal liberty. As the case unfolds, stakeholders await further developments and potential implications for the crypto industry in Nigeria and beyond.<\/p>\n","post_title":"Binance Tax Evasion Trial Adjourned To May 17 In Nigeria","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-tax-evasion-trial-adjourned-to-may-17-in-nigeria","to_ping":"","pinged":"","post_modified":"2024-06-23 03:14:09","post_modified_gmt":"2024-06-22 17:14:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16506","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16460,"post_author":"15","post_date":"2024-04-19 23:38:06","post_date_gmt":"2024-04-19 13:38:06","post_content":"\n Binance, the leading global cryptocurrency exchange, is set to make a comeback in India after agreeing to pay a $2 million penalty. This development follows a period of stringent regulatory scrutiny where the Indian government blocked nine cryptocurrency websites. They also prompted the removal of related apps from Apple and Google stores due to non-compliance with local laws. <\/p>\n\n\n\n According to the Economic Times<\/a>, sources close to the matter indicate that Binance is restructuring its operations in South Asia. The cryptocurrency exchange is planning to fully comply with the Financial Intelligence Unit of India, which regulates the local trading of digital assets.<\/p>\n\n\n\n The move comes as part of Binance's efforts to align with India's financial regulations, including adherence to anti-money laundering and taxation statutes. Before the crackdown, Binance held a commanding presence in the Indian market, with an estimated 90% of crypto holdings among Indian investors, totaling about $4 billion.<\/p>\n\n\n\n See Related:<\/em><\/strong> Indian Parliament Passes A 30% Crypto Tax Law<\/a><\/p>\n\n\n\n Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16147,"post_author":"1","post_date":"2024-04-03 19:24:16","post_date_gmt":"2024-04-03 08:24:16","post_content":"\n Binance's executives have launched a legal battle against Nigerian authorities. Tigran Gambaryan and Nadeem Anjarwalla found themselves entangled in a controversy after Nigeria banned several cryptocurrency trading websites.<\/p>\n\n\n\n The duo, hailing from diverse backgrounds, flew to Nigeria only to face detainment upon arrival on February 26. Tigran Gambaryan, Binance's head of financial crime compliance, and Nadeem Anjarwalla, the regional manager for Africa, took their fight to the Federal High Court in Abuja.<\/p>\n\n\n\n According to a report<\/a> by a local media publication, the executives accused the National Security Adviser's office and the Economic and Financial Crimes Commission (EFCC) of violating their fundamental human rights. The executives demanded their release, the return of their passports, and a public apology for their detainment.<\/p>\n\n\n\n See Related: <\/em><\/strong>Binance In A Fresh Legal Battle As Nigeria Summons CEO Over $26M In Suspicious Flows<\/a><\/p>\n\n\n\n During a hearing before Judge Iyang Ekwo, Gambaryan argued that his detention and passport seizure violated his liberty as guaranteed by Nigeria's constitution.<\/p>\n\n\n\n The executives maintained their innocence, claiming they were not informed of any offenses committed. The judge adjourned the hearing to April 8, awaiting representation from the Office of the National Security Adviser (ONSA) and the EFCC.<\/p>\n\n\n\n The detention of Binance executives occurred amidst Nigeria's crackdown on cryptocurrency trading platforms, which emerged as alternatives amidst chronic dollar shortages. Nigerian authorities charged Gambaryan and Anjarwalla, along with the company, with tax evasion. However, Anjarwalla fled the country, facing the possibility of an international arrest warrant.<\/p>\n\n\n\n Despite the absence of representation from the Nigerian authorities during the hearing, the executives' legal battle persists. With the next court date set for April 8, the outcome remains uncertain.<\/p>\n","post_title":"Binance Executives Sue Nigerian Government For Detainment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-executives-sue-nigerian-government-for-detainment","to_ping":"","pinged":"\nhttps:\/\/nairametrics.com\/2024\/03\/28\/nsa-efcc-must-apologize-for-detaining-me-binance-executive-tells-nigerian-court\/","post_modified":"2024-04-03 19:26:56","post_modified_gmt":"2024-04-03 08:26:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16147","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
See Related:<\/em><\/strong> Binance Executives Sue Nigerian Government For Detainment<\/a><\/p>\n\n\n\n In addition to the tax evasion trial, Binance and its executives face charges of laundering over $35 million brought by Nigeria's anti-graft agency, the Economic and Financial Crimes Commission. This trial is scheduled to resume on May 2.<\/p>\n\n\n\n Despite not being represented in court, Binance stated that it is working closely with Nigerian authorities following Gambaryan's detention. However, the legal battle continues as Gambaryan remains in custody, with his bail application hearing postponed.<\/p>\n\n\n\n Gambaryan has also sued the government for violating his fundamental human rights. His motion claims that his detention and passport confiscation violate Nigeria's constitution, which guarantees personal liberty. As the case unfolds, stakeholders await further developments and potential implications for the crypto industry in Nigeria and beyond.<\/p>\n","post_title":"Binance Tax Evasion Trial Adjourned To May 17 In Nigeria","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-tax-evasion-trial-adjourned-to-may-17-in-nigeria","to_ping":"","pinged":"","post_modified":"2024-06-23 03:14:09","post_modified_gmt":"2024-06-22 17:14:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16506","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16460,"post_author":"15","post_date":"2024-04-19 23:38:06","post_date_gmt":"2024-04-19 13:38:06","post_content":"\n Binance, the leading global cryptocurrency exchange, is set to make a comeback in India after agreeing to pay a $2 million penalty. This development follows a period of stringent regulatory scrutiny where the Indian government blocked nine cryptocurrency websites. They also prompted the removal of related apps from Apple and Google stores due to non-compliance with local laws. <\/p>\n\n\n\n According to the Economic Times<\/a>, sources close to the matter indicate that Binance is restructuring its operations in South Asia. The cryptocurrency exchange is planning to fully comply with the Financial Intelligence Unit of India, which regulates the local trading of digital assets.<\/p>\n\n\n\n The move comes as part of Binance's efforts to align with India's financial regulations, including adherence to anti-money laundering and taxation statutes. Before the crackdown, Binance held a commanding presence in the Indian market, with an estimated 90% of crypto holdings among Indian investors, totaling about $4 billion.<\/p>\n\n\n\n See Related:<\/em><\/strong> Indian Parliament Passes A 30% Crypto Tax Law<\/a><\/p>\n\n\n\n Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16147,"post_author":"1","post_date":"2024-04-03 19:24:16","post_date_gmt":"2024-04-03 08:24:16","post_content":"\n Binance's executives have launched a legal battle against Nigerian authorities. Tigran Gambaryan and Nadeem Anjarwalla found themselves entangled in a controversy after Nigeria banned several cryptocurrency trading websites.<\/p>\n\n\n\n The duo, hailing from diverse backgrounds, flew to Nigeria only to face detainment upon arrival on February 26. Tigran Gambaryan, Binance's head of financial crime compliance, and Nadeem Anjarwalla, the regional manager for Africa, took their fight to the Federal High Court in Abuja.<\/p>\n\n\n\n According to a report<\/a> by a local media publication, the executives accused the National Security Adviser's office and the Economic and Financial Crimes Commission (EFCC) of violating their fundamental human rights. The executives demanded their release, the return of their passports, and a public apology for their detainment.<\/p>\n\n\n\n See Related: <\/em><\/strong>Binance In A Fresh Legal Battle As Nigeria Summons CEO Over $26M In Suspicious Flows<\/a><\/p>\n\n\n\n During a hearing before Judge Iyang Ekwo, Gambaryan argued that his detention and passport seizure violated his liberty as guaranteed by Nigeria's constitution.<\/p>\n\n\n\n The executives maintained their innocence, claiming they were not informed of any offenses committed. The judge adjourned the hearing to April 8, awaiting representation from the Office of the National Security Adviser (ONSA) and the EFCC.<\/p>\n\n\n\n The detention of Binance executives occurred amidst Nigeria's crackdown on cryptocurrency trading platforms, which emerged as alternatives amidst chronic dollar shortages. Nigerian authorities charged Gambaryan and Anjarwalla, along with the company, with tax evasion. However, Anjarwalla fled the country, facing the possibility of an international arrest warrant.<\/p>\n\n\n\n Despite the absence of representation from the Nigerian authorities during the hearing, the executives' legal battle persists. With the next court date set for April 8, the outcome remains uncertain.<\/p>\n","post_title":"Binance Executives Sue Nigerian Government For Detainment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-executives-sue-nigerian-government-for-detainment","to_ping":"","pinged":"\nhttps:\/\/nairametrics.com\/2024\/03\/28\/nsa-efcc-must-apologize-for-detaining-me-binance-executive-tells-nigerian-court\/","post_modified":"2024-04-03 19:26:56","post_modified_gmt":"2024-04-03 08:26:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16147","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
According<\/a> to a local media publication BusinessDay<\/em>, the FIRS argued that Gambaryan should represent Binance as the primary defendant since the exchange and its executives were charged together. However, Gambaryan's lawyer objected, citing Nigerian law, which requires the primary defendant to be served before entering a plea.<\/p>\n\n\n\n See Related:<\/em><\/strong> Binance Executives Sue Nigerian Government For Detainment<\/a><\/p>\n\n\n\n In addition to the tax evasion trial, Binance and its executives face charges of laundering over $35 million brought by Nigeria's anti-graft agency, the Economic and Financial Crimes Commission. This trial is scheduled to resume on May 2.<\/p>\n\n\n\n Despite not being represented in court, Binance stated that it is working closely with Nigerian authorities following Gambaryan's detention. However, the legal battle continues as Gambaryan remains in custody, with his bail application hearing postponed.<\/p>\n\n\n\n Gambaryan has also sued the government for violating his fundamental human rights. His motion claims that his detention and passport confiscation violate Nigeria's constitution, which guarantees personal liberty. As the case unfolds, stakeholders await further developments and potential implications for the crypto industry in Nigeria and beyond.<\/p>\n","post_title":"Binance Tax Evasion Trial Adjourned To May 17 In Nigeria","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-tax-evasion-trial-adjourned-to-may-17-in-nigeria","to_ping":"","pinged":"","post_modified":"2024-06-23 03:14:09","post_modified_gmt":"2024-06-22 17:14:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16506","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16460,"post_author":"15","post_date":"2024-04-19 23:38:06","post_date_gmt":"2024-04-19 13:38:06","post_content":"\n Binance, the leading global cryptocurrency exchange, is set to make a comeback in India after agreeing to pay a $2 million penalty. This development follows a period of stringent regulatory scrutiny where the Indian government blocked nine cryptocurrency websites. They also prompted the removal of related apps from Apple and Google stores due to non-compliance with local laws. <\/p>\n\n\n\n According to the Economic Times<\/a>, sources close to the matter indicate that Binance is restructuring its operations in South Asia. The cryptocurrency exchange is planning to fully comply with the Financial Intelligence Unit of India, which regulates the local trading of digital assets.<\/p>\n\n\n\n The move comes as part of Binance's efforts to align with India's financial regulations, including adherence to anti-money laundering and taxation statutes. Before the crackdown, Binance held a commanding presence in the Indian market, with an estimated 90% of crypto holdings among Indian investors, totaling about $4 billion.<\/p>\n\n\n\n See Related:<\/em><\/strong> Indian Parliament Passes A 30% Crypto Tax Law<\/a><\/p>\n\n\n\n Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16147,"post_author":"1","post_date":"2024-04-03 19:24:16","post_date_gmt":"2024-04-03 08:24:16","post_content":"\n Binance's executives have launched a legal battle against Nigerian authorities. Tigran Gambaryan and Nadeem Anjarwalla found themselves entangled in a controversy after Nigeria banned several cryptocurrency trading websites.<\/p>\n\n\n\n The duo, hailing from diverse backgrounds, flew to Nigeria only to face detainment upon arrival on February 26. Tigran Gambaryan, Binance's head of financial crime compliance, and Nadeem Anjarwalla, the regional manager for Africa, took their fight to the Federal High Court in Abuja.<\/p>\n\n\n\n According to a report<\/a> by a local media publication, the executives accused the National Security Adviser's office and the Economic and Financial Crimes Commission (EFCC) of violating their fundamental human rights. The executives demanded their release, the return of their passports, and a public apology for their detainment.<\/p>\n\n\n\n See Related: <\/em><\/strong>Binance In A Fresh Legal Battle As Nigeria Summons CEO Over $26M In Suspicious Flows<\/a><\/p>\n\n\n\n During a hearing before Judge Iyang Ekwo, Gambaryan argued that his detention and passport seizure violated his liberty as guaranteed by Nigeria's constitution.<\/p>\n\n\n\n The executives maintained their innocence, claiming they were not informed of any offenses committed. The judge adjourned the hearing to April 8, awaiting representation from the Office of the National Security Adviser (ONSA) and the EFCC.<\/p>\n\n\n\n The detention of Binance executives occurred amidst Nigeria's crackdown on cryptocurrency trading platforms, which emerged as alternatives amidst chronic dollar shortages. Nigerian authorities charged Gambaryan and Anjarwalla, along with the company, with tax evasion. However, Anjarwalla fled the country, facing the possibility of an international arrest warrant.<\/p>\n\n\n\n Despite the absence of representation from the Nigerian authorities during the hearing, the executives' legal battle persists. With the next court date set for April 8, the outcome remains uncertain.<\/p>\n","post_title":"Binance Executives Sue Nigerian Government For Detainment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-executives-sue-nigerian-government-for-detainment","to_ping":"","pinged":"\nhttps:\/\/nairametrics.com\/2024\/03\/28\/nsa-efcc-must-apologize-for-detaining-me-binance-executive-tells-nigerian-court\/","post_modified":"2024-04-03 19:26:56","post_modified_gmt":"2024-04-03 08:26:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16147","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
The trial, which involves allegations of tax evasion by Binance and its executives Tigran Gambaryan and Nadeem Anjarwalla, was stalled because the Federal Inland Revenue Service (FIRS) had not served the exchange with the charges. Gambaryan, a U.S. citizen and head of financial crime compliance, and Anjarwalla, a British-Kenyan regional manager for Africa, face four counts of tax evasion charges.<\/p>\n\n\n\n According<\/a> to a local media publication BusinessDay<\/em>, the FIRS argued that Gambaryan should represent Binance as the primary defendant since the exchange and its executives were charged together. However, Gambaryan's lawyer objected, citing Nigerian law, which requires the primary defendant to be served before entering a plea.<\/p>\n\n\n\n See Related:<\/em><\/strong> Binance Executives Sue Nigerian Government For Detainment<\/a><\/p>\n\n\n\n In addition to the tax evasion trial, Binance and its executives face charges of laundering over $35 million brought by Nigeria's anti-graft agency, the Economic and Financial Crimes Commission. This trial is scheduled to resume on May 2.<\/p>\n\n\n\n Despite not being represented in court, Binance stated that it is working closely with Nigerian authorities following Gambaryan's detention. However, the legal battle continues as Gambaryan remains in custody, with his bail application hearing postponed.<\/p>\n\n\n\n Gambaryan has also sued the government for violating his fundamental human rights. His motion claims that his detention and passport confiscation violate Nigeria's constitution, which guarantees personal liberty. As the case unfolds, stakeholders await further developments and potential implications for the crypto industry in Nigeria and beyond.<\/p>\n","post_title":"Binance Tax Evasion Trial Adjourned To May 17 In Nigeria","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-tax-evasion-trial-adjourned-to-may-17-in-nigeria","to_ping":"","pinged":"","post_modified":"2024-06-23 03:14:09","post_modified_gmt":"2024-06-22 17:14:09","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16506","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16460,"post_author":"15","post_date":"2024-04-19 23:38:06","post_date_gmt":"2024-04-19 13:38:06","post_content":"\n Binance, the leading global cryptocurrency exchange, is set to make a comeback in India after agreeing to pay a $2 million penalty. This development follows a period of stringent regulatory scrutiny where the Indian government blocked nine cryptocurrency websites. They also prompted the removal of related apps from Apple and Google stores due to non-compliance with local laws. <\/p>\n\n\n\n According to the Economic Times<\/a>, sources close to the matter indicate that Binance is restructuring its operations in South Asia. The cryptocurrency exchange is planning to fully comply with the Financial Intelligence Unit of India, which regulates the local trading of digital assets.<\/p>\n\n\n\n The move comes as part of Binance's efforts to align with India's financial regulations, including adherence to anti-money laundering and taxation statutes. Before the crackdown, Binance held a commanding presence in the Indian market, with an estimated 90% of crypto holdings among Indian investors, totaling about $4 billion.<\/p>\n\n\n\n See Related:<\/em><\/strong> Indian Parliament Passes A 30% Crypto Tax Law<\/a><\/p>\n\n\n\n Two months ago, Nigeria detained two executives of the Binance after they flew into the country. The country's Office of the National Security Adviser detained the two, and their passports were seized. <\/p>\n\n\n\n Nigerian officials have leveled several charges against the cryptocurrency exchange Binance. The allegation includes exploiting the local economy, contributing to the devaluation of the Nigerian naira, and engaging in money laundering activities. They allege that Binance has been involved in manipulating the exchange rates by engaging in speculative actions and fixing rates. Furthermore, the Nigerian government has expressed concerns over $26 billion in transactions carried out on Binance's platform, which they report as being untraceable.<\/p>\n\n\n\n Binance has denied any wrongdoing, but this is not the first time it has bumped heads with regulators.<\/p>\n","post_title":"Binance Set To Re-enter Indian Market with $2 Million Fine Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binance-set-to-re-enter-indian-market-with-2-million-fine-settlement","to_ping":"","pinged":"","post_modified":"2024-04-20 04:11:08","post_modified_gmt":"2024-04-19 18:11:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16460","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16147,"post_author":"1","post_date":"2024-04-03 19:24:16","post_date_gmt":"2024-04-03 08:24:16","post_content":"\n Binance's executives have launched a legal battle against Nigerian authorities. Tigran Gambaryan and Nadeem Anjarwalla found themselves entangled in a controversy after Nigeria banned several cryptocurrency trading websites.<\/p>\n\n\n\n The duo, hailing from diverse backgrounds, flew to Nigeria only to face detainment upon arrival on February 26. Tigran Gambaryan, Binance's head of financial crime compliance, and Nadeem Anjarwalla, the regional manager for Africa, took their fight to the Federal High Court in Abuja.<\/p>\n\n\n\nLegal Proceedings<\/h2>\n\n\n\n
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Nigeria Detains Binance Executives<\/h2>\n\n\n\n
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Legal Proceedings<\/h2>\n\n\n\n
Legal Ramifications and Additional Charges<\/h2>\n\n\n\n
Nigeria Detains Binance Executives<\/h2>\n\n\n\n
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