Nigeria Court Adjourns Binance Executive’s Money Laundering Trial to Oct 11

IconCryptoNewsTerminal Staff17 Jul, 2024

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Nigeria Court Adjourns Binance Executive’s Money Laundering Trial to Oct 11

The money laundering trial of Tigran Gambaryan, a Binance executive who has been detained in Nigeria since February, has been postponed until October 11. Gambaryan was arrested in April on charges of money laundering and operating without a license. He has been in detention ever since, despite Binance's claims that he is innocent. The adjournment was granted by a Nigerian court on Tuesday, July 26. The court did not give a reason for the adjournment, but it is likely that the trial will be delayed further due to the ongoing COVID-19 pandemic. Gambaryan's arrest and detention have raised concerns about the regulatory environment for cryptocurrency in Nigeria. The country's central bank has issued a number of warnings about the risks of investing in cryptocurrency, and it has been cracking down on unlicensed cryptocurrency exchanges. It is unclear how the adjournment of Gambaryan's trial will affect the regulatory environment for cryptocurrency in Nigeria. However, it is likely that the trial will continue to be closely watched by the cryptocurrency community.

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