News with the tag "CBN"

Nigeria is getting ready to tax your crypto. Starting next month, the Federal Inland Revenue Service (FIRS) plans to start taxing crypto holdings. Zacch Adedeji, the Executive Chairman of FIRS, has announced that they’re pushing for a law to regulate the crypto industry. This means your Bitcoin stas...

James Utudor, a Nigerian crypto advocate, has filed a lawsuit against the government, targeting the heavy restrictions on cryptocurrencies. The lawsuit names the President, the Finance Minister, the Attorney General, and several key agencies, including the Central Bank of Nigeria and the Securities ...

Nigerian authorities have arrested Linus Williams, also known as “Blord,” amid allegations of crypto-related fraud and terrorism financing. Williams, who claims to be a crypto asset billionaire, faces accusations centered on his operation of unauthorized cryptocurrency trading platforms dealing in U...

As investigations proceed, the outcome of this case could set significant precedents for how cryptocurrency-related crimes are handled in Nigeria.

Nigeria’s central bank (CBN) has thrown a [sort of ] new allegation at Binance, claiming that it was operating as a bank without the proper registration for that. Fake identities and unauthorized operations This comes amid the trial of Tigran Gambaryan, who has been in custody for months now. U.S. l...

An official at the Central Bank of Nigeria (CBN) has stated that Binance operated illegally in multiple ways in the West African nation. This development comes amidst the ongoing legal trial of the prominent crypto exchange in Nigeria. Related Reading: Nigerian Crypto Boom Resurrected? SEC Embraces ...

In a Nigerian court on Friday, July 5, Binance's illegal operations were highlighted, with Central Bank official testifying on lack of necessary licenses and regulatory approval.

Crypto exchange Binance’s regulatory woes in Nigeria deepened as the Central Bank of Nigeria (CBN) accused the company of operating without a license in the country. The allegation emerged during a recent court hearing in Abuja, where a senior CBN official, Akinwumi, testified against Binance. Binan...

The CBN's attitude to crypto has been inconsistent in recent years and the crackdown contradicts a decision taken in 2021 to facilitate crypto account opening.

Peter Schiff, a popular critic of Bitcoin and staunch advocate for Gold, has delved into the ongoing debate surrounding BTC’s valuation, predicting a potential downside pressure in the near future and setting his target at the $54,000 price level. Bitcoin Continues To Face Downside Pressure Earlier ...