Nigeria to Crack Down on Unregulated Crypto Exchanges
Nigeria’s Securities and Exchange Commission (SEC) intends to initiate enforcement actions against businesses and individuals who engage in unregulated cryptocurrency transactions. The local news agency Nairametrics reported on September 9 that Emomotimi Agama, the Director-General of Nigeria’s Securities and Exchange Commission (SEC), announced that Nigeria will take action against entities that attempt to offer cryptocurrency […]
Binance Exec’s Trial Moved Up Despite Lack of Legal Counsel
The Nigerian government accuses Binance of being responsible for the fall of the Naira currency amid multiple alleged money laundering charges. The legal trial for Tigran Gambaryan, a Binance executive and former United States federal agent, has been moved to September 2. The crypto industry is anxiously awaiting the outcome. Gambaryan’s next court hearing is set […]
Richard Teng Denies $26B Revenue Claim in Nigeria Lawsuit
Binance CEO Richard Teng strongly refutes Nigerian government allegations in a lawsuit involving money laundering and tax evasion. Binance CEO Richard Teng has responded forcefully to the Nigerian government’s allegations concerning the company’s operations in the country. Binance and two of its executives, Nadeem Arjarwalla and Tigran Gambaryan, are currently facing allegations of tax evasion […]
Binance Executives To Face Money Laundering Counts
The defense has requested that the money laundering lawsuit against two Binance executives in Nigeria be heard next week. A Nigerian court will hear the money laundering case against Binance and two executives next week. This is in response to the defense’s request to reschedule the hearing in light of the ongoing controversy. Tigran Gambaryan, […]
Nigeria to Introduce new Tax Laws Regulating Cryptocurrency
Nigeria’s tax authority intends to draft a measure to govern the cryptocurrency industry by the end of 2024. According to a Vanguard report, FIRS Executive Chairman Zacch Adedeji stated that the nation is prepared to introduce legislation that would introduce regulations to regulate the cryptocurrency industry, reduce associated risks, and enhance the country’s economy during […]