As a seasoned crypto investor, I’ve seen my fair share of regulatory hurdles and legal battles in this space. The ongoing saga between Binance and the Nigerian authorities over the detention of Tigran Gambaryan is particularly concerning.
As a crypto investor, I’ve been closely following the developments regarding Binance executive Tigran Gambaryan’s detainment in Nigeria. I’m concerned about the situation as Gambaryan has been held in custody for several months now. The Nigerian authorities have accused Binance and its executives of money laundering, an allegation that has cast a shadow over the cryptocurrency exchange. I believe Rep McCormick’s recent bill introduction is a positive step towards ensuring Gambaryan’s release. Let’s hope for a fair and speedy resolution to this issue.
US Lawmakers Moves To Rescue Gambaryan
Expert: Rich McCormick recently revealed a new legislative initiative aimed at securing the freedom of Tigran Gambaryan. Labeled as “Calling on the Nigerian Government to promptly free Binance employee Tigran Gambaryan from custody“, this proposal is an additional step taken in response to demands from the cryptocurrency sector following his arrest.
The legislation has been assigned to the House Committee on Foreign Affairs for further review. Last month, Representatives French Hill and Chrissy Houlahan traveled to Nigeria for discussions on national security matters and collaborative initiatives against terrorism. They reportedly encountered the Binance executive during their visit.
Due to having both malaria and double pneumonia, his condition is quite challenging. He’s experienced considerable weight loss as well. Unfortunately, he’s been prevented from receiving proper medical care.
Currently, Nigerian prison authorities refute claims regarding Gambaryan’s ailing health. Simultaneously, cryptocurrency advocates have voiced concerns over human rights violations, urging the release of Gambaryan to reunite with his loved ones. Representative McCormick is involved in supporting Gambaryan from the State of Georgia.
Nigeria’s Binance Debacle
In 2021, the value of the country’s domestic currency experienced a steep decrease, causing concern among government officials. They attributed this depreciation to various factors, including transactions on crypto exchanges. As a result, they imposed a ban on major digital asset trading platforms. Consequently, Gambaryan and Arjarwalla, two individuals, were arrested by the National Security Adviser’s office during a regulatory meeting.
Arjarwalla managed to flee from prison, while Gambaryan remains imprisoned. The Federal Inland Revenue Service (FIRS) dismissed the tax evasion allegations against them, but the Economic and Financial Crimes Commission (EFCC) persists with the money laundering accusation. Binance advocates for Gambaryan’s freedom, maintaining that he holds no significant role in their crypto exchange.
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2024-07-11 23:53