Nigeria Drops Money Laundering Case Against Binance Executive for Medical Reasons

The Nigerian government has withdrawn a money laundering case against Binance executive Tigran Gambaryan to allow him to seek medical treatment abroad. While Gambaryan denies the laundering charges, the government plans to continue its case against Binance. Separate tax evasion charges against Binance also remain.

The Nigerian government has opted to withdraw its money laundering case against Binance executive Tigran Gambaryan, allowing him to seek medical attention overseas. Gambaryan, who serves as the head of financial crime compliance at Binance and holds U.S. citizenship, has remained in detention since February. He faces charges of laundering over $35 million, which both he and Binance deny.

The government plans to proceed with its case against Binance, the world-renowned cryptocurrency exchange, even in Gambaryan's absence. Additional charges of tax evasion also loom over Binance, highlighting ongoing legal challenges.

The decision to drop charges against Gambaryan comes as a humanitarian consideration amid intensifying legal scrutiny towards the crypto giant. The legal proceedings are being closely monitored as they unfold.

(With inputs from agencies.)