Binance in Nigeria: Charges dropped against cryptocurrency executive Tigran Gambaryan

Tigran Gambaryan, a US citizen arrested in February, will be allowed abroad to seek medical treatment.

British Broadcasting CorporationWatchHomeNewsUS ElectionSportBusinessInnovationCultureArtsTravelEarthVideoLiveHomeNewsIsrael-Gaza WarWar in UkraineUS & CanadaUKUK PoliticsEnglandN. IrelandN. Ireland PoliticsScotlandScotland PoliticsWalesWales PoliticsAfricaAsiaChinaIndiaAustraliaEuropeLatin AmericaMiddle EastIn PicturesBBC InDepthBBC VerifyUS ElectionElection pollsKamala HarrisDonald TrumpJD VanceTim WalzSportBusinessExecutive LoungeTechnology of BusinessWomen at the HelmFuture of BusinessInnovationTechnologyScience & HealthArtificial IntelligenceAI v the MindCultureFilm & TVMusicArt & DesignStyleBooksEntertainment NewsArtsArts in MotionTravelDestinationsAfricaAntarcticaAsiaAustralia and PacificCaribbean & BermudaCentral AmericaEuropeMiddle EastNorth AmericaSouth AmericaWorld’s TableCulture & ExperiencesAdventuresThe SpeciaListEarthNatural WondersWeather & ScienceClimate SolutionsSustainable BusinessGreen LivingVideoLiveLive NewsLive SportHomeNewsUS ElectionSportBusinessInnovationCultureArtsTravelEarthVideoLiveAudioWeatherNewslettersNigeria drops charges against Binance cryptocurrency bossGetty ImagesTigran Gambaryan, 40, was transferred to prison in April after his arrest in FebruaryNigeria’s anti-corruption agency has dropped a money-laundering case against a top cryptocurrency executive to allow him to get medical treatment abroad.

Tigran Gambaryan, a US citizen, was arrested on a business trip to Nigeria in February and later charged alongside his company Binance with laundering $35.4m (£28m) - which they denied.

The 40-year-old was in charge of financial crime compliance at Binance, the world's largest crypto exchange that Nigeria blames for much of its recent economic turmoil.

It accused the digital platform - where investors can buy, sell and trade cryptocurrencies - of fixing exchange rates and currency speculation leading to the free-fall of the local currency.

The charges against Binance, including tax evasion offences that it denies, were part of a clampdown by the Nigerian authorities on cryptocurrency firms in general over fears they were being used for money laundering and financing terrorism.

https://www.bbc.com/news/articles/c8dmp1jg448o

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