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Binance Set to Re-Enter India After Paying $2 Million Penalty: Report
Binance, the world's largest cryptocurrency exchange, is reportedly preparing to make a comeback in India after being banned by the government in January. According to a report by the Economic Times of India, the exchange is set to pay a penalty of approximately $2 million. Additionally, sources familiar with the matter stated that the exchange......
Binance is Considering Multiple Jurisdictions for Headquarters: CEO
Binance, the world's largest cryptocurrency exchange, is currently in discussions with several jurisdictions regarding the selection of its official headquarters, according to CEO Richard Teng. During a fireside discussion at Paris Blockchain Week, Teng emphasized that the decision-making process is complex and involves a multitude of factors that must be carefully considered. Key points: Binance......
Binance Executive Pleads Not Guilty to Money Laundering Charges
Tigran Gambaryan, a Binance executive who was detained by Nigerian authorities alongside his colleague Nadeem Anjarwalla, pleaded not guilty to money laundering charges at a high court on Monday. Local reports state that Gambaryan, the head of Binance's financial crime compliance, is on remand until trial, with the option to request bail until April 18.......
Detained Binance Executive Sues Nigerian Authorities
Tigran Gambaryan, a detained executive from the global cryptocurrency exchange Binance, has filed a lawsuit against Nigeria's National Security Adviser and the Economic and Financial Crimes Commission (EFCC). Gambaryan accused the government of allegedly violating his basic human rights. Local sources state that Gambaryan's move alleges violations of the Nigerian constitution in relation to his......
Binance Russian Successor CommEx Winds Down
CommEx, the cryptocurrency exchange that took over the Russian business of Binance in September 2023, has officially announced its decision to wind down operations. It has also immediately halted deposits on its platform. The announcement comes as Binance faces increasing regulatory scrutiny worldwide, with the Philippines recently blocking local user access to the exchange due......
Philippines Securities Regulator Moves to Block Crypto Exchange Binance
The Securities and Exchange Commission (SEC) of the Philippines has decided to block local user access to cryptocurrency exchange Binance. The move comes in response to concerns over the firm's unlicensed operations in the country. The SEC alleged that this poses a threat to the security of Filipino investors' funds. Key points: The SEC has......
Nigerian Court Orders Binance to Provide User Data to Financial Crimes Commission
In a recent development, a Nigerian court has directed cryptocurrency exchange Binance to furnish the nation's Economic and Financial Crimes Commission (EFCC) with detailed information on all Nigerian users trading on its platform. Justice Emeka Nwite from the Abuja Division of the Federal High Court issued the interim order. Also, this comes in response to......
Binance Reveals Extensive Cooperation with Nigerian Authorities Amid Turmoil
In a blog post on March 13, leading cryptocurrency exchange Binance shed light on its substantial cooperation with Nigerian authorities. This is in response to the recent turmoil surrounding its operations in the country. The exchange's disclosure comes amidst allegations of currency manipulation and calls for a ban on crypto exchanges by the Nigerian government.......
Binance.US Suffered Massive Layoffs and Revenue Loss Following SEC Lawsuit
A recent court deposition has shed light on the impact of the Securities and Exchange Commission's (SEC) lawsuit against crypto exchange Binance.US in June 2023. Christopher Blodgett, a Binance.US executive, testified that the company experienced a 75% loss in revenue and was forced to lay off 200 employees, which is two-thirds of its workforce. Key......
Nigeria Demands $10 Billion From Binance: BBC
Nigeria has reportedly demanded cryptocurrency exchange Binance pay $10 billion amid alleged illegal transactions that harmed the country’s economy. The claim comes amid an ongoing crackdown and investigation into the trading platform. Key Context: Binance is accused of setting an unofficial exchange rate in Nigeria, spurring currency issues. The platform is said to enable $26......
