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The CEO of cryptocurrency exchange Binance on Tuesday accused Nigeria of setting a dangerous precedent after its executives were invited to the African country and then detained as part of a ...
Nigeria's markets regulator has ordered the world's largest cryptocurrency exchange Binance to halt its operations in the country, saying a local unit that courted Nigerian investors through a ...
A Nigerian court has adjourned until May 2 a case against the executive, Tigran Gambaryan, and another Binance official, who are accused of laundering more than $35 million, the country's anti ...
In June 2023, Nigeria's Securities and Exchange Commission recently deemed Binance's activities in the country as “illegal.” It issued a declaration stating that Binance Nigeria Limited, a subsidiary of Binance, was operating unlawfully in the country.
Gambaryan was jailed in February after visiting Nigeria to address allegations that Binance was undermining the local currency, which began to crash in May 2023. Economists have laid the blame for ...
Nigerian authorities on Wednesday denied allegations from Binance's CEO of soliciting bribes, saying the claim was a "diversionary tactic" and an "act of blackmail" aimed at undermining ongoing ...
Cryptocurrency-related companies are not forbidden in Nigeria. [7] The legal status of cryptocurrencies in Nigeria is ambiguous, unlike other countries where there is a clear ban. [2] According to a study by price tracker CoinGecko, Nigeria became more interested in cryptocurrencies than any other country in Africa.
The legal status of cryptocurrencies varies substantially from one jurisdiction to another, and is still undefined or changing in many of them. [1] Whereas, in the majority of countries the usage of cryptocurrency isn't in itself illegal, its status and usability as a means of payment (or a commodity) varies, with differing regulatory implications.