EddieJayonCrypto

 5 Mar 24

tl;dr

\Nigeria has recently joined the global crackdown on alleged money laundering and terrorist financing within the crypto industry, with the House of Representatives Committee on Financial Crimes summoning Binance chief executive Richard Teng. The committee has given Binance and its CEO a seven-day ul...

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Nigeria has recently joined the global crackdown on alleged money laundering and terrorist financing within the crypto industry, with the House of Representatives Committee on Financial Crimes summoning Binance chief executive Richard Teng. The committee has given Binance and its CEO a seven-day ultimatum to appear before them following allegations of involvement in financial crimes.

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According to a local media report, the committee has given Binance and its CEO a seven-day ultimatum to appear before them following allegations of involvement in financial crimes. Binance, the world’s largest cryptocurrency exchange, has been flagged by the Central Bank of Nigeria for its alleged illicit activities. Ginger Onwusibe, the Chairman of the Financial Crimes Committee, expressed concern over Binance’s refusal to respond to previous invitations. Onwusibe sternly warned that the committee would exercise its constitutional powers if Binance failed to comply with the summons. The allegations of terrorism financing, money laundering, and tax evasion among others leveled against Binance are deemed as damning enough.

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Disclaimer

The opinions expressed by the writers at Grow My Bag are their own and do not reflect the official stance of Grow My Bag. The content provided on our site is not intended as investment advice, and Grow My Bag is not an investment advisor. We do not endorse buying or selling any cryptocurrencies or digital assets mentioned in our articles. High-risk investments in Bitcoin, cryptocurrencies, and digital assets require thorough due diligence, and all transfers and trades made are at your own risk. Grow My Bag is not responsible for any potential losses and participates in affiliate marketing.
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