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Binance’s Efforts To Resolve Its Executive Detention Situation

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(CTN News) – In response to the detention of Binance’s head of financial crime compliance, the company’s CEO said on Thursday that the company is working very closely with Nigerian authorities.

Tigran Gambaryan and another Binance official are accused of laundering over $35 million, according to Nigeria’s anti-corruption body, which announced on April 8 that a Nigerian court had adjourned the case until May 2.

During the Token2049 crypto conference in Dubai, CEO Richard Teng stated, “What I can say is we are working very closely with the Nigerian authorities to resolve the issue.”.

Previously, Nadeem Anjarwalla, the regional manager for Africa at the company, a British-Kenyan who was the other executive who fled Nigeria last month, was in trouble.

Anjarwalla and Gambaryan travelled to Nigeria following the country’s decision to ban several cryptocurrency trading websites, and were arrested by the Economic and Financial Crimes Commission (EFCC) upon their arrival on Feb. 26.

Furthermore, the Nigerian tax agency, the Federal Inland Revenue Service (FIRS), has filed a case against Binance and its executives for tax evasion, which will be heard in court on Friday. ” It has never happened before. It was a one-time occurrence. It has never happened before,”

Binance’s head of regional markets Vishal Sacheendran told Reuters at a conference in Dubai the other day.

There is a motionless woman, 96 years of age, who is attached to a drip.

As far as the charges against the company are concerned, Sacheendran declined to comment.

The world’s largest cryptocurrency exchange, Binance, also announced Thursday that it has been granted a licence by Dubai’s regulator VARA that will allow the platform to target retail customers as well as qualified and institutional ones.

Bloomberg reported earlier on Thursday, citing sources, that Binance’s founder and former CEO Changpeng Zhao was required to cede voting control of its Dubai unit in order for VARA to grant the license.

“That is pure speculation. Again, we do not comment on media speculation… Our relationship, our dealings with regulators are confidential,” Teng said when asked about the report.

In a statement released earlier this month, the European Securities and Markets Authority stated that “crypto exchanges largely operate outside of national legal frameworks” and Binance, for example, claims to not have a headquarters.

In response to a Reuters question regarding the location of the company’s global headquarters, Teng told the news agency that the company had chosen a shortlist of potential locations, but declined to discuss specific sites or a timeline for a final decision.


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Salman Ahmad is a seasoned writer for CTN News, bringing a wealth of experience and expertise to the platform. With a knack for concise yet impactful storytelling, he crafts articles that captivate readers and provide valuable insights. Ahmad's writing style strikes a balance between casual and professional, making complex topics accessible without compromising depth.

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