India’s Financial Intelligence Unit (FIU) Fines Binance $2.25M
India’s FIU has levied an 188.2 million rupee ($2.25 million) fine on Binance for failing to comply with the nation’s Anti-Money Laundering (AML) regulations. On Thursday, June 19, the agency announced that the penalty applies to multiple violations of the Prevention of Money Laundering Act (PMLA), 2002. About the case Binance meets the criteria for […]
Binance Cofounder Yi He Warns of Impersonation Scams
Binance co-founder Yi He has warned about a fake account impersonating her. This fake account lead to the loss of 60 Ethereum (ETH). Yi, the cofounder of Binance, has issued a cautionary note regarding a fabricated account impersonating her. This fraudulent account has been linked to a scheme that resulted in the loss of 60 […]
Nigeria Drops Some Charges Against Detained Binance Exec
Nigerian officials have dropped some of the charges against detained Tigran Gambaryan, a family spokesperson announced on June 14. Gambaryan and Binance executive Nadeem Anjarwalla were both exonerated of tax allegations by the Federal Inland Revenue Service (FIRS). Nevertheless, the Economic and Financial Crimes Commission (EFCC) of Nigeria continues to investigate the duo for money […]
Nigerian Minister Defends Binance Exec Prosecution Amid Criticism
The Nigerian Minister of Information, Mohammed Idris, said the country’s legal procedures are being followed in the trial of Binance and its executives despite criticism from US Lawmakers. According to the statement, Idris reportedly stated that the legal proceedings have adhered to due process at every stage, and prosecutors are confident in their case due […]
US Lawmakers Urge Biden to Secure Binance Exec’s Return from Nigeria
U.S. lawmakers urge Biden to secure the release of Binance exec Tigran Gambaryan, detained in Nigeria for over three months. U.S. lawmakers are urging President Joe Biden and other senior officials to take immediate action to secure the release of Tigran Gambaryan, a former federal agent and executive at Binance. Additionally, they think that Gambaryan […]