Nigeria has decided to drop legal proceedings against <a href="https://www.world-today-news.com/binance-paves-the-way-for-a-better-and-safer-digital-ecosystem-with-ncfta/" title="Binance paves the way for a better and safer digital ecosystem with NCFTA”>Tigran Gambaryan, the chief executive of the digital currency exchange Binance, who was accused of money laundering. This decision comes after several months of detention for this 40-year-old American citizen, who was arrested on a business trip to Nigeria last February. Binance, however, remains accused in this case.
Binance CEO arrested and then released in Nigeria
Tigran Gambaryanover financial crime compliance at Binance, was arrested in February in Nigeria by another stage manager, Nadeem Anjarwalla. The two men were accused by Nigerian authorities of sending $35.4 million (around £28 million) through Binance.
After being placed under house arrest, Nadeem Anjarwalla they managed to escape the country. Tigran Gambaryan transferred to the prison of Go Yes Abujawhere his health declined according to his family. On Wednesday, Nigerian prosecutors finally he announced that charges against him had been dropped to allow him to seek treatment abroad.
Binance still in the crosshairs of Nigerian justice
And Tigran Gambaryan now free, it is not like this Binance. The platform continues to focus on allegations of money laundering and tax evasion in Nigeria, which it denies. His trial was adjourned until November.
Nigerian authorities are accused Binance to have participated in the highest fall of the local currency, the nairaby allowing speculative activities on its platform. In the context of a severe economic crisis, many Nigerians have turned to cryptocurrencies to try to protect their savings.
Binance already convicted in the United States
This is not the first time Binancethe largest cryptocurrency exchange in the world, in justice scenes. Last April, the founder Changpeng Zhao he pleaded guilty in the United States following charges from the US Treasury Department.
Binance accused of failing to stop transactions on its platform for the benefit of terrorist groups. Changpeng Zhao he was sentenced to 4 months in prison. Despite these legal barriers, Binance remains a major player in the cryptocurrency ecosystem.
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