Nigeria’s SEC to crack down on unregulated crypto exchanges
Nigeria’s SEC will enforce regulations on unregulated crypto businesses, protecting investors while encouraging innovation in the growing market.
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Nigeria’s SEC will enforce regulations on unregulated crypto businesses, protecting investors while encouraging innovation in the growing market.
Detained in Nigeria for more than six months and with reported health problems, Tigran Gambaryan awaits a judge’s decision following another bail application.
Gambaryan’s next hearing is set for Sept. 4, where the judge will consider the executive’s latest motion for bail.
In June, Nigeria’s Federal Inland Revenue Service dropped charges against Binance executives Tigran Gambaryan and Nadeem Anjarwalla.
Amidst multiple alleged money laundering charges, the Nigerian government claims that Binance was responsible for the decline of its Naira currency.
Binance CEO Richard Teng and family members have called for action, claiming Tigran Gambaryan has been unjustly detained in Nigeria since February.
The FIRS’s initiative to regulate cryptocurrency and update tax laws reflects a broader trend in Nigeria toward embracing and managing digital asset.
The discrepancies between the government’s claims and the blockchain data highlight a tense dynamic between digital finance and state authorities.
Gambaryan has been detained in Nigeria since February 2024 and has suffered numerous chronic health conditions during that time.
The strategy aims to fast-track AI development and adoption in Africa, driving innovation and growth that aligns with Nigeria’s digital transformation goals.
