Take Nigeria, for instance, where Tigran Gambaryan, an American employee of Binance, is currently detained. Nigeria claims, without evidence, that crypto was responsible for devaluing the naira and law enforcement there has accused Gambaryan of money laundering and tax evasion. According to the BBC, Nigeria has asked for $10 billion in return for his release, which, frankly, sounds a lot like a ransom demand. Source
Gambaryan, Binance’s head of financial crime compliance, was detained in Abuja six months ago, shortly after voluntarily traveling to Nigeria’s capital city at the government’s invitation. At first, Gambaryan and another executive, British-Kenyan national Nadeem Anjarwalla, were held under house arrest without explanation. Source
“We do work closely with global regulators. In many places around the world, it’s not a problem. There could be areas where it may be a challenge, but we have already resolved some of those issues,” Teng said, referring to the licenses the company has recently received and settlements it has made in countries like Dubai, India, Thailand and Brazil. Source
Binance and its former CEO, Changpeng Zhao (CZ), are facing a revived class action lawsuit in the U.S. District Court for the Western District of Washington, Seattle. The lawsuit, filed by three cryptocurrency investors, alleges that Binance facilitated money laundering of stolen crypto assets, making them untraceable. The plaintiffs claim that their stolen crypto was […] Source CryptoX Portal
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news from the past week. In this issue: El Salvador attracts $1.61 billion in investments for its economic overhaul plan, the Venezuelan government blocks Binance using a state-owned ISP, and the Paraguayan justice system convicts an individual for energy theft crimes […] Source CryptoX Portal
Opeyemi is a proficient writer and enthusiast in the exciting and unique cryptocurrency realm. While the digital asset industry was not his first choice, he has remained absolutely drawn since making a foray into the space over two years. Now, Opeyemi takes pride in creating unique pieces unraveling the complexities of blockchain technology and sharing insights on the latest trends in the world of cryptocurrencies. Opeyemi savors his attraction to the crypto market, which explains why he spends the better parts of his day looking through different price charts. “Looking”…
Binance has registered as a reporting entity with India’s Financial Intelligence Unit. Binance CEO Richard Teng emphasized the importance of the Indian market and the crypto exchange’s dedication to providing secure and efficient services. With this registration, Indian users now have full access to Binance’s platform. Binance Now Fully Available for Indian Users Crypto exchange […] Source BitcoincryptoexchangeExchanges CryptoX Portal
Meet Samuel Edyme, Nickname – HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme’s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more…
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Binance, the world’s largest cryptocurrency exchange, will pay 9.6 million reais ($1.76 million) to the Brazilian Securities and Exchange Commission (CVM) as a settlement for offering derivatives trading services in the country without receiving the corresponding license. Source