Binance has set two conditions it insists Nigeria authorities must meet before it considers registering under Nigeria’s Securities and Exchange Commission (SEC) crypto framework. First, the platform demands the release of its executive, Tigran Gambaryan, who has been detained by Nigerian authorities since February. Second, the platform seeks to resolve legal disputes, including allegations of tax evasion and money laundering, before moving forward. Although the SEC granted an Approval-in-Principle to exchanges like Quidax and Busha, Binance has resisted registering under Nigeria’s Accelerated Regulatory Incubation Programme (ARIP) until its issues with the Nigerian authorities have been resolved. A source claims Binance feels no urgency to comply, as Nigerians continue to access the platform via alternative means, like VPNs. Nonetheless, SEC officials anticipate Binance will eventually register due to its significant market presence in Nigeria.
SOURCE: NAIRAMETRICS
Binance Outlines Conditions to Register Under Nigeria’s Crypto Program
