BREAKING: FG withdraws money laundering charges against Binance Executive

FILE PHOTO: Tigran Gambaryan, an executive of Binance, the world's largest cryptocurrency exchange, sits as he waits to face prosecution for tax evasion and money laundering at the federal high court in Abuja, Nigeria April 4, 2024. REUTERS/ Abraham Achirga/File Photo

The Nigerian government has dropped its money laundering case against Tigran Gambaryan, an executive with Binance Holdings Limited.

In April, the Economic and Financial Crimes Commission (EFCC) had arraigned Binance and Gambaryan, accusing them of involvement in money laundering activities.

Gambaryan has remained in custody since February, following the crackdown on the cryptocurrency company over allegations of tampering with the Nigerian currency.

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More details to follow….