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1 week ago on
April 20, 2024
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Richard Teng confirmed that the Binance team is officially working with the Nigerian authorities to settle the $35 million money laundering case.
Binance is a top-ranked crypto exchange, known for its highly crypto trader-friendly interface. The services of this crypto exchange are available in multiple countries. Over the last couple of years, this crypto company has shut down crypto businesses from half a dozen countries, following regulatory actions.
As we know a couple of months ago, the Nigerian authorities arrested two Binance executives Tigran Gambaryan and Nadeem Anjarwalla. Binance officials are facing accusations of laundering over $35 million. Just a week ago, Nadeem Anjarwalla managed to escape from custody, while investigators traced his location in Kenya.
On 19 April 2024, Binance CEO Richard Teng, speaking about Gambaryan’s case during the Token2049 crypto conference in Dubai, said that the Binance team was working very closely with Nigerian authorities.
However, Richard failed to give some important information or new progress in the case but he confirmed that they are in talks with the authorities to solve the matter as soon as possible.
Binance CEO discusses stablecoin regulation and detained executive at Token2049
— EchoeWeb (@Echoeweb) April 18, 2024
At Token2049, Binance CEO Richard Teng addressed key issues in the crypto space, focusing on the regulation of stablecoins and the complex situation of a detained Binance executive in Nigeria.… pic.twitter.com/rZJs9PvTSs
Charges against Binance & Binance executives
Following the country’s decision to ban several cryptocurrency trading platforms, Binance executives Anjarwalla and Gambaryan flew to Nigeria.
On 26 Feb, Just after arrival in the country, they were detained by Nigeria’s anti-corruption body the Economic and Financial Crimes Commission (EFCC).
In a separate conversation with Reuters media, Binance’s head of regional markets Vishal Sacheendran said that this type of incident never happened with Binance or its executives.
Vishal refused to give any information related to the charges against the Binance exchange by the Nigerian authorities.
Binance, Dubai, & licence
It is worth it to note that, Just a day ago, Binance secured a full crypto licence from Dubai crypto regulatory body VARA to provide services to retail clients in addition to qualified and institutional ones.
After @cz_binance’s departure, @binance obtains a regulatory license in Dubai. pic.twitter.com/8c8s8HZH6q
— Cointelegraph (@Cointelegraph) April 18, 2024
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