Nigerian authorities has asked in court for cryptocurrency exchange Binance and two of its executives to be tried for alleged money laundering and tax evasion, the first legal step following weeks of a criminal investigation into the trading platform.
Business Tigran Gambaryan, an American citizen and Binance's head of financial crime compliance, attends a court hearing at the federal High Courts, in Abuja, Nigeria, Thursday, April 4, 2024. Nigerian authorities have asked a local court to prosecute Binance and two of its executives for alleged money laundering and tax evasion.
In separate charges seen by The Associated Press Thursday at the Federal High Court in the capital, Abuja, Nigeria’s anti-corruption agency and the local tax authority accused Binance and the two officials of operating without the required license, unlawfully negotiating foreign exchange rates, tax evasion and concealing the origin of illegal proceeds and revenue of $35.4 million.Binance couldn’t be immediately reached for comment.
In addition, local media had reported that the Nigerian government demanded the names of citizens trading on the platform.
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