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.
Nigeria harbors Africa’s largest crypto economy in terms of trade volume with many citizens using crypto to hedge their finances against surging inflation and the declining local currency. Authorities, however, alleged the platform was being used for money laundering and terrorism financing. Since Gambaryan and Anjarwalla were arrested on Feb.26, their trial has been shrouded with controversy after they accused authorities of illegally detaining them and seizing their passports.
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