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The Nigerian central bank has launched a pilot program to supervise anti‑money laundering and counter‑terrorism financing compliance among crypto and fintech firms. Six VASPs Tapped for New Supervisory Pilot The Central Bank of Nigeria has officially launched an anti-money laundering and counter-financing of terrorism supervisory pilot program. The new pilot is designed to align Nigeria … Read more
Binance is reportedly discussing an out-of-court settlement with Nigerian authorities to resolve its ongoing tax evasion case. The Multi-Billion Dollar Legal Dispute Top cryptocurrency exchange Binance has reportedly initiated talks with Nigerian authorities to resolve its ongoing tax evasion case through an out-of-court settlement. At a hearing before High Court Judge Emeka Nwite in Abuja, … Read more
Nigerian President Bola Tinubu has launched a comprehensive regulatory regime for Nigeria’s digital asset market, headlined by the creation of the Virtual Asset Regulatory Council. A New Strategic Oversight Body Nigerian President Bola Tinubu has unveiled a sweeping new framework to regulate the country’s fast-growing digital asset market, establishing the Virtual Asset Regulatory Council (VARC). … Read more
The Nigerian SEC has sharply raised minimum capital requirements for digital asset firms, with offering platforms now needing about $704,000 and exchanges and custodians $1.4 million. Experts describe new capital requirements as “anti-innovation,” and warn that they could drive talent abroad. Significant Hikes in Capital Demands The Nigerian Securities and Exchange Commission’s (SEC) revised minimum … Read more
Ezeebit, a South African crypto payments infrastructure startup, has raised $2.05 million in seed funding to expand its stablecoin-based payment network across South Africa, Kenya, and Nigeria. Funding to Drive Product Development and Expansion Ezeebit, a South African stablecoin and cryptocurrency payment infrastructure company, has successfully closed a $2.05 million (R34.9 million) seed funding round … Read more
Ripple’s latest tie-up with Redotpay unlocks instant NGN payouts from XRP and stablecoins, extending fast digital-asset settlement to emerging-market users seeking quicker, cheaper cross-border liquidity. Ripple Payments Powers XRP and Stablecoins Across Fresh NGN Gate Ripple announced on Dec. 2 that Redotpay integrated Ripple Payments to expand its stablecoin payout network and launch its “Send … Read more
The Nigerian High Court dismissed the unlawful detention lawsuit filed by former Binance executive Tigran Gambaryan against two government agencies. Judicial Rationale for Dismissal A Nigerian High Court has dismissed the lawsuit filed by former Binance executive Tigran Gambaryan against the Economic and Financial Crimes Commission (EFCC) and the Office of the National Security Adviser … Read more
Bitget Wallet has introduced a bank transfer feature that connects stablecoins to more than 80 banks across Nigeria and Mexico, enabling instant conversion of the stablecoins USDT and USDC into local currencies. Bitget Wallet Connects Crypto Payments to Traditional Banks in Two Major Markets The company told Bitcoin.com News that the update allows users to … Read more
Changpeng Zhao (CZ) sparked outrage among Nigerians and Web3 influencers after commenting that the Nigerian government had “kidnapped” former Binance employee Tigran Gambaryan. U.S. Threats Remarks by Binance co-founder and former CEO Changpeng Zhao (CZ), suggesting that Nigeria “kidnapped” and jailed former employee Tigran Gambaryan for eight months without cause, have sparked outrage among Nigerians. … Read more
CZ reminded that Nigeria detained ex‑Binance employee Tigran Gambaryan, responding to Trump and War Secretary Hegseth. Binance founder Changpeng Zhao (CZ) tweeted that “Nigeria also basically kidnapped Tigran Gambaryan, an ex‑Binance employee and an ex‑US federal agent, for 8 months without cause a year ago,” posting the remark in reaction to a Truth Social post … Read more