Binance Working with Nigerian Authorities on $35 Million Money Laundering Case
The cryptocurrency world is abuzz with news of Binance, one of the top-ranked crypto exchanges, working with Nigerian authorities to settle a $35 million money laundering case. The case involves two Binance executives, Tigran Gambaryan and Nadeem Anjarwalla, who were arrested by Nigerian authorities a couple of months ago.
During the Token2049 crypto conference in Dubai, Binance CEO Richard Teng confirmed that the Binance team is actively collaborating with Nigerian authorities to resolve the matter. While no new progress or information was shared by Richard Teng, he assured that they are in talks with authorities to address the issue promptly.
The situation has raised concerns in the crypto community, especially as Binance has faced regulatory actions in several countries over the past few years. The company, known for its user-friendly interface and availability in multiple countries, has shut down operations in response to regulatory pressures.
In addition to the ongoing case in Nigeria, Binance recently secured a full crypto license from Dubai’s crypto regulatory body VARA. This development comes as the company continues to expand its services to retail, qualified, and institutional clients.
As the story unfolds, the crypto world will be closely watching to see how Binance navigates the legal challenges in Nigeria and how it continues to grow its presence in the global cryptocurrency market. Stay tuned for more updates on this developing story.
