A Nigerian court will hear the money laundering case against cryptocurrency exchange Binance and two of its executives next week following a defense request.
Case Overview
A Nigerian court has scheduled a hearing for next week in the money laundering case against cryptocurrency exchange Binance and two of its executives. The investigation concerns allegations of money laundering and tax evasion.
Court Hearing
The hearing is set for September 2, instead of the previously scheduled October 11 date, according to Reuters. Binance executives Nadeem Arjarwalla and Tigran Gambaryan were detained in Nigeria in February after being invited for a meeting.
Context and Reactions
Despite denials from Binance and its executives, several agencies in Nigeria accused the company's activities of negatively affecting the local currency—naira. The crypto community is calling for the release of Tigran Gambaryan, who has been in custody since February 26.
The case remains in the spotlight, raising significant questions about regulation and the future of cryptocurrency exchanges in developing economies.
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