Binance is not alone – Nigeria’s authorities have been clamping down on cryptocurrency platforms in general over allegations they are being used for money laundering and financing terrorism. As well as money laundering charges, Binance and the two executives also face four counts of tax evasion, filed by the Federal Inland Revenue Service. An executive from cryptocurrency firm Binance has pleaded not guilty to money laundering charges in a Nigerian court. US citizen Tigran Gambaryan was arrested in February, along with his colleague Nadeem Anjarwalla, a British-Kenyan dual national. Their detention came as Nigeria accused Binance of being behind the country’s economic turmoil. Is Crypto-currency facilitating illicit trades ?
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