"Nigeria Setting A Dangerous Precedent," Says Binance CEO As Executive Detained | Firstpost Africa
"Nigeria Setting A Dangerous Precedent," Says Binance CEO As Executive Detained | Firstpost Africa
Nigeria has intensified its crackdown on cryptocurrency and the world’s largest crypto-exchange company Binance is facing the heat. The company and its executives are facing charges of money laundering and tax evasion. Binance CEO Richard Teng has criticised the detention of the company’s executives and has said “Nigeria is setting a dangerous precedent for other companies by inviting the executives first and then detaining them”. He also reportedly accused Nigerian officials of asking for $150 million in bribes. Meanwhile, the Central Bank of Nigeria singled out Binance as the biggest culprit for the fall of the country's local currency Naira. Watch our video to know more.
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