Click Here 116. Detained execs, a bold escape, and tax evasion charges: Nigeria takes aim at Binance
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Mar 26, 2024 Nigeria charges Binance with tax evasion, executives detained in a tense dispute. One executive escapes during Ramadan prayers with a Kenyan passport. Cryptocurrency gains popularity in Nigeria amidst economic turmoil and government scrutiny.
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Tigran Gambarian: Crypto Crime Pioneer
- Tigran Gambarian was an IRS special agent who specialized in cryptocurrency crimes and helped pioneer blockchain forensic investigation.
- He showed that Bitcoin transactions are traceable, revolutionizing crime-fighting around digital currency.
Nigeria's Crypto Adoption Reality
- Nigeria has the world's second-largest crypto adoption with over 13 million users mostly using Binance.
- Nigerians use crypto pragmatically as a hedge against inflation, not just for scamming.
Binance's Role in Nigeria's Economy
- Nigeria accuses Binance of contributing to economic crises by allegedly manipulating the naira's value.
- Binance markets peer-to-peer trades without controlling exchange rates, serving as a reference rate platform.