ChainCatcher news, according to Cointelegraph, the Nigerian Securities and Exchange Commission has updated its crypto regulations, adding requirements for virtual asset service providers (VASP) and social media influencers regarding crypto-related marketing promotions.In the revised digital asset rules, the regulator stated that VASPs promoting their crypto products in collaboration with third-party service providers must "obtain prior approval from the commission." The rules also require VASPs to ensure that third-party providers comply with the marketing rules set by the SEC. These rules apply to any VASP providing services to residents of the country and are set to take effect on June 30, 2025.

ChainCatcher news, according to Cointelegraph, the Economic and Financial Crimes Commission (EFCC) of Nigeria raided a cryptocurrency scam center in Lagos on December 10, arresting 792 suspects, including 148 Chinese citizens and 40 Filipino citizens.According to Ken Gamble, co-founder of the cybercrime investigation firm IFW Global, the scam gang offered Nigerian employees a monthly salary of $500 plus performance bonuses, which is 10 times the local minimum wage.

ChainCatcher news, Consensys has released the latest Web3 survey conducted in collaboration with YouGov. The survey further confirms the high penetration of cryptocurrency in emerging markets, with Nigeria standing out, followed closely by South Africa. The five jurisdictions most likely to invest in cryptocurrency in the next 12 months are Nigeria (93%), South Africa (77%), the Philippines (59%), India (58%), and Indonesia (54%). The least likely to purchase are Europeans, Canadians, and Japanese. UK respondents scored the lowest (15%), while the US was at 41%, situated between Brazil (43%) and Argentina (39%).As for the main factors hindering investment, they include volatility, scams, and the lack of basic knowledge to enter the market. A considerable number of people do not understand the purpose of blockchain or find it too complex, thus believing that this investment is only suitable for those who are tech-savvy. Additionally, 47% of respondents stated that the current banking system works well but still has room for improvement. However, 18% believe a complete overhaul is necessary, while 19% think the status quo is sufficient.

ChainCatcher news, the Nigerian cryptocurrency exchange platform Bitmama has temporarily suspended its virtual Mastercard service. This move follows a trend of challenges faced by African fintech companies regarding card services, including exchange rate fluctuations, chargeback fraud, and insufficient funds. Some fintech companies like Bitmama and Chipper Cash continue to offer alternative card services.

ChainCatcher news, according to News.bitcoin, Nigeria's proposed "Investment and Securities Bill" suggests imprisoning Ponzi scheme operators. This bill has been welcomed by participants in the cryptocurrency industry, who hope that this move will help to cleanse the industry's reputation.

ChainCatcher message, Google Trends shows that the recent searches for the keyword "Buy Bitcoin" mainly come from Nigeria, followed by Cameroon and Ghana.

ChainCatcher message, according to a statement released by the White House on Tuesday, U.S. President Joe Biden spoke with Nigerian President Bola Tinubu on Tuesday, thanking him for the release of American citizen and Binance executive Tigran Gambaryan. The press release stated that Biden "expressed gratitude for President Tinubu's leadership in ensuring Gambaryan's release" during the call, and particularly appreciated the cooperation in law enforcement, including through the recently announced bilateral task force on illegal finance and cryptocurrency, collaboration on new technologies and innovations, and shared interests in reforming international organizations to reflect African voices.Earlier reports indicated that on the day Tigran Gambaryan was released, the U.S. State Department announced the establishment of a new bilateral task force between the U.S. and Nigeria, focusing on cryptocurrency and illegal finance.

ChainCatcher News, the U.S. State Department has announced the establishment of a Bilateral Liaison Group on Illicit Finance and Cryptocurrencies in partnership with Nigeria, to jointly combat cybercrime and financial misconduct related to cryptocurrencies.The official announcement stated: "The United States collaborates with global partners to promote cyberspace and digital technologies, foster economic prosperity, while combating and addressing malicious cyber activities, cybercrime, and other digital harms."The announcement reaffirmed the U.S. commitment to assisting the Nigerian government in strengthening its capacity to investigate and prosecute cybercrime, as stated by the Department of Justice (DOJ).

ChainCatcher news, Binance CEO Richard Teng posted on the X platform: "We are deeply relieved and grateful that Tigran Gambaryan has finally been released after being detained in Nigeria for nearly eight months. During this difficult time, Tigran has shown tremendous strength, and we commend his resilience in such severe adversity. We are very thankful to everyone who has dedicated countless hours to support Tigran's release. Tigran's health and well-being remain our top priority, and we are glad that he can now receive the urgent medical care and rest he needs with his family. Binance remains committed to working with global regulators to ensure compliance and transparency in the ever-evolving digital asset space. We look forward to putting this incident behind us and continuing our efforts to create a brighter future for the global blockchain industry. Nigeria has a young, tech-savvy population with a strong interest in digital finance, fully capable of leveraging blockchain technology to address economic and social challenges. We look forward to playing a constructive role in this endeavor."Previous news from yesterday, according to DL News, Nigerian prosecutors withdrew criminal charges against Binance executive Tigran Gambaryan on Wednesday; Tigran Gambaryan has been detained in the African country since February.

ChainCatcher news, according to DL News, Nigerian prosecutors withdrew criminal charges against Binance executive Tigran Gambaryan on Wednesday. Tigran Gambaryan has been detained in the African country since February.At the court hearing, a lawyer representing the Nigerian Economic and Financial Crimes Commission stated that Gambaryan could not be prosecuted for Binance's alleged illegal activities because he was merely an employee. Judge Emeka Nwite accepted the government's decision to withdraw the case. According to a source, Gambaryan has been released, but it is unclear whether he has reached the U.S. Embassy in Abuja.The EECC has not withdrawn money laundering charges against Binance, which denies any wrongdoing. The trial is set to begin in November.

ChainCatcher news, citing Bloomberg via Tree News, reports that the Nigerian government has dropped charges against Binance executive Tigran Gambaryan.

ChainCatcher news, according to Cointelegraph, a group of 18 state attorneys general is urging President Biden to help ensure the release of Binance executive Tigran Gambaryan, who has been detained in Nigeria since February 2024.The attorneys general have requested that Biden designate Gambaryan as a hostage under the Robert Levinson Hostage Recovery and Hostage Taking Accountability Act. In a joint letter sent on October 18, the organization expressed concern over Gambaryan's deteriorating health and the illegal nature of his detention.Attorney General Formella wrote in the letter: "His continued detention without cause not only violates his rights but poses a serious threat to his health and well-being... We have a responsibility to advocate for the rights of American citizens abroad, and we urge the federal government to apply the necessary diplomatic pressure to ensure his release."

ChainCatcher news, according to DL News, Binance's compliance officer Tigran Gambaryan was unable to appear in court due to serious illness, delaying the trial in Nigeria for several months. Tigran Gambaryan's lawyer Mark Mordi requested a recess to check on his client's health condition. The judge agreed and postponed the trial until October 25.It is reported that Binance's financial crime compliance officer Tigran Gambaryan has been detained in Nigeria since February, and the Nigerian court last week rejected Tigran Gambaryan's bail request due to illness. U.S. lawmakers have claimed he is being unjustly detained. His lawyer has repeatedly stated that his health condition is poor and that he requires surgery.

ChainCatcher news, the Nigerian government has collected nearly $100,000 (approximately 160 million Naira) from two cryptocurrency companies accused of unauthorized exchanging of USDT and Naira. The two companies are Paparaxy Global Ventures Limited and Lemskin Technologies Limited, which have been charged with violating the law for not holding valid banking licenses.According to Nairametrics, the two companies reached a plea agreement with the Economic and Financial Crimes Commission (EFCC) of Nigeria, and the case was heard on October 22.Additionally, Nigerian authorities are freezing bank accounts related to unlicensed cryptocurrency traders to strengthen regulatory measures.

ChainCatcher news, according to Cryptonews, a court in Nigeria has denied the bail request of Binance executive Tigran Gambaryan due to health reasons, which has sparked strong opposition from Binance.A Binance spokesperson stated in a statement: "We are deeply disappointed by the court's decision to deny Tigran's bail, especially considering his deteriorating health condition. He has been unlawfully detained for over 220 days. Tigran did not go to Nigeria as a decision-maker, and there is no reason to continue to detain him. We are committed to working with the Nigerian government to resolve this issue, but Tigran must be allowed to go home."Binance has consistently emphasized that Gambaryan does not have substantial decision-making power at the exchange, and his prolonged detention has raised humanitarian concerns. As Gambaryan's health worsens and the detention continues, calls for his release are growing louder. Binance, along with several international advocates, continues its fight for his freedom.ChainCatcher previously reported that, according to Bloomberg, a court in Nigeria denied the bail application of Binance executive Tigran Gambaryan on health grounds, as the executive is on trial for alleged money laundering and currency manipulation, while instructing the prison to send him to the hospital for treatment.

ChainCatcher news, according to Bloomberg, a court in Nigeria denied the bail application of Binance executive Tigran Gambaryan on health grounds. The executive is on trial for alleged money laundering and currency manipulation, while the court instructed the prison to send him to the hospital for treatment. Binance's Head of Financial Crime Compliance, Tigran Gambaryan, has been detained in the country since February, and U.S. lawmakers have stated that he is being unjustly detained. His lawyer has repeatedly mentioned his poor health and stated that he requires surgery.

ChainCatcher news, according to Bitcoin.com, the Nigerian Securities and Exchange Commission (SEC) has pledged to combat fraud, money laundering, and market manipulation in the cryptocurrency industry. SEC Director General Emomotimi Agama emphasized the importance of enhancing investor education to help the public steer clear of unlicensed crypto exchanges and illegal platforms.In addition, Nigeria has approved the first batch of digital asset exchanges and revised the relevant rules for Virtual Asset Service Providers (VASPs). Lagos State Governor Babajide Sanwo-Olu also supports this initiative, highlighting the importance of regulation in ensuring the safety of the crypto market and protecting investors.

ChainCatcher news reports that the Central Bank of Nigeria (CBN) injected $543.5 million into the Nigerian foreign exchange market between September 6 and 30 to address currency fluctuations.The bank attributed the volatility to strong import demand and seasonal factors. Nigeria is facing a foreign exchange shortage, and the government has taken various measures to address it, including restricting foreign currency withdrawals and considering selling oil in local currency.