Binance executive collapses during Nigeria trial for money laundering
Gambaryan missed a court appearance on tax evasion charges but attended the money laundering trial on the same day. Go to Source
Nigeria
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Nigeria’s SEC-Crypto License
In May 2022, Nigeria’s Securities and Exchange Commission introduced a robust regulatory framework for virtual asset service providers, including digital asset exchanges. The framework required compliance with various laws and regulations to foster market integrity, safeguard investors, and deter financial crimes. The rules mandated digital asset exchanges to register, adhere to anti-money laundering (AML) practices, … Read more
Binance exec denied bail in Nigeria money laundering trial
Head prosecutor Ekele Iheanacho objected to bail by highlighting Gambaryan’s questionable attempt to get a new passport, allegedly due to a stolen previous one. Go to Source
Cryptocurrency Exchange Kucoin Suspends P2P Services for Nigerian Naira
Kucoin, a global cryptocurrency exchange platform, announced on May 15 that it has temporarily suspended its peer-to-peer (P2P) services for the Nigerian naira, as well as the Fast Buy service via naira cards. The crypto exchange stated that during this period, it will focus on ensuring compliance and creating a more robust and secure environment … Read more
Nigerian Currency Becomes Worst-Performing After Erasing All Early April Gains
The Nigerian currency, which has been depreciating against the U.S. dollar in the past few weeks, has completely erased its gains from early April, making it the worst-performing currency in the world. The decline of the naira is attributed to Nigeria’s ongoing foreign exchange shortages. One economist expects the pressure on the currency to peak … Read more
Nigeria’s foreign investment at risk due to Binance bribery allegations
SBM Intelligence emphasized that detaining foreign business officials could make it challenging for the country to attract investors. Go to Source
Nigerian stakeholders demand Binance reveal identity of bribe agent
SIBAN’s executive secretary, Rume Ophi, stressed that Binance should reveal names to substantiate the claim and allow authorities to address wrongdoing. Go to Source
Nigerian officials proposed secret crypto settlement, claims Binance CEO
Binance CEO Richard Teng says the Nigerian government has set a dangerous precedent after inviting company executives to meetings before detaining them. Go to Source
Nigeria to ban peer-to-peer crypto trading in naira
Nigeria’s SEC is set to launch a new regulatory framework for crypto exchanges and custodians “in the coming days.” Go to Source
Nigerian fintechs crack down on crypto, users face account blocks
The Nigerian central bank’s attitude to crypto has been inconsistent in recent years, and the crackdown contradicts a decision taken in 2021 to facilitate crypto account opening. Go to Source