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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 ...
The wrongful detention of Gambaryan and charges against Binance come as Nigeria is in the midst of a debilitating economic crisis. The local currency, the naira, has experienced a free-fall that ...
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 ...
The other executive, Nadeem Anjarwalla, a British-Kenyan who is a regional manager for Africa, fled Nigeria in March. Teng said Binance executives first held meetings with Nigerian authorities in ...
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.
financial crime compliance, and Nadeem Anjarwalla, a British-Kenyan who is Binance's regional manager for Africa, flew to Nigeria following the country's decision to ban several cryptocurrency ...
On January 27, 2022, Qubit Finance (DeFi) lost around $80M worth of Binance Coin due to a flaw in the smart contract that enabled the withdrawal of the said amount in exchange for a deposit of 0 ETH. [33] In March 2022, [34] the largest cryptocurrency theft of the year, US$625 million in ether and USD coin was stolen from the Ronin Network ...
The Central Bank of Nigeria Act 2007 gives the central bank, Central Bank of Nigeria (CBN) the right to issue Nigeria's legal tender which is legally prescribed to be the Naira. The act also gives the CBN the sole right to issue Naira and the right to determine the exchange rate of Naira to other fiat currencies.