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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 ...
A Binance executive taken into custody last month in Nigeria fled the country just days before authorities announced tax evasion charges against him, a colleague, and the crypto exchange.
It has been almost eight months since Binance executive and former IRS agent, Tigran Gambaryan, has been wrongfully detained in Nigeria over a feud between the African nation and the world’s ...
In addition to the case brought by the EFCC, Nigeria's tax agency, the Federal Inland Revenue Service (FIRS), has charged Binance and the executives with tax evasion, a case that will appear ...
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.
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.
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On 28 February 2024, two Binance executives, Nadeem Anjarwalla and Tigran Gambaryan, were detained by Nigeria's government on allegations of illegal operations and forex manipulation. [125] Anjarwalla escaped custody [126] in March. The Nigerian government subsequently filed a criminal charge against Binance for tax evasion.