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<ul class="news-points"> 
 <li>Nigerian Central Bank accuses Binance of operating as an exchange without license.</li> 
 <li>Binance executive faces money laundering charges but is released due to health concerns.</li> 
 <li>Court tensions rise over delays in releasing the executive’s medical test results.</li> 
</ul> 
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,&nbsp; <a href="https://businessday.ng/news/article/cbn-did-not-issue-any-licence-to-binance-to-offer-other-financial-services-witness-tells-court/" target="_blank" rel="nofollow">testified against</a> Binance. 
Binance’s lack of legal rights in the country to operate as a crypto exchange and its legal violations were considered a crucial point in the court hearing in Abuja. During the prosecution’s examination of Akinwummi, led by EFCC Counsel Ekele Iheanacho, Akinwumi affirmed, “The CBN did not issue any license to Binance.” 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 “The Binance provides platform for traders to trade between the naira and cryptocurrency, as well as paying between one cryptocurrency and the other…They also facilitate conversion from one fiat currency to the other…That kind of service requires authorization by the CBN, either as an…
</blockquote>
The post <a href="https://coinedition.com/nigeria-vs-binance-court-hearing-highlights-unlicensed-operation-money-laundering-charges/">Nigeria vs. Binance: Court Hearing Highlights Unlicensed Operation, Money Laundering Charges</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

Nigeria vs. Binance: Court Hearing Highlights Unlicensed Operation, Money Laundering Charges

Coin Edition

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