The U.S. Securities and Exchange Commission (SEC) has approved significant regulatory filings for spot ether ETFs. Economist Jim Rickards predicts that gold prices could surpass $27,000 based on rigorous analysis. Satoshi Nakamoto’s Genesis wallet now holds over 100 BTC after an accidental transfer added 0.10754671 BTC, bringing its total value to approximately $6.75 million. The…
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In a dramatic turn of events, Tigran Gambaryan, a detained executive of cryptocurrency exchange Binance, collapsed in court due to alleged ill health during his ongoing money laundering trial on May 23, as reported by Vanguard. The incident occurred at the Federal High Court in Abuja shortly after the case was called for continuation before…
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According to Reuters, the Nigerian Federal High Court in Abuja has adjourned the tax evasion case against Binance Holdings Limited and its executive, Tigran Gambaryan. Proceedings stalled on Wednesday due to Gambaryan’s absence. The Federal Inland Revenue Service (FIRS) brought the case, which was set for arraignment before Justice Emeka Nwite. The Judge rescheduled the…
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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,…
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Tigran Gambaryan, the Binance executive detained in Nigeria, was denied bail on his 40th birthday, according to a court hearing in Abuja on Friday. According to Nigerian media outlet Punch News, Judge Emeka Nwite ordered the crypto exchange’s Head of Compliance to stay in prison, citing his potential to jump bail if granted. Nigerian Binance…
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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…
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The International Monetary Fund (IMF) recommended on May 10 that Nigeria regulate crypto trading platforms amid the African nation’s detainment of two Binance executives, according to a United Nations Thursday staff report. Nigeria Should Regulate Crypto Trading Platforms, IMF Report Says “Staff recommends that global crypto trading platforms be registered or licensed in Nigeria and…
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Nigeria has fired back at Binance Holdings’ bribe accusation, claiming it’s a distraction to shift focus away from the exchange’s actions. The statement on Wednesday followed Binance CEO Richard Teng’s blog post, where he accused a Nigerian government official of pressuring crypto representatives to accept a secret agreement. This agreement would supposedly settle claims the…
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The Central Bank of Nigeria (CBN) has disavowed a letter that allegedly instructed financial institutions to sever ties with four global cryptocurrency exchanges. The central bank stated that the letter did not originate from its office and recommended that individuals interested in “authentic updates” refer to its official website. Fake Content The Central Bank of…
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Nadeem Anjarwalla, a Binance executive facing charges in Nigeria who escaped from custody, was recently apprehended in Kenya after fleeing custody while awaiting extradition. Government sources familiar with the matter revealed that Anjarwalla’s arrest came after a concerted effort by law enforcement agencies from Nigeria and Kenya. The Kenya Police Service confirmed the arrest and indicated…
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