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28/06/24
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Blockchain Group Asks Nigerian Government for a Balance Approach in Binance case
Three days ago, the Blockchain Industry Coordinating Committee of Nigeria (BICCoN) published a public statement on the current legal issues between the government of Nigerian and Binance, as well as the consequences on the blockchain industry in the country.
The inter-community working group expressed concerns about the legal issues, noting that these can have remarkable consequences on the national interest, the reputation of Nigeria’s blockchain industry, and BICCoN’s global collaborations. The group called for a balanced approach that ensures trust and confidence in the process and encourages collaboration with stakeholders, including partners across the world.
While safeguarding national interests, including critical areas like national security, economic stability, regulatory compliance, and more, the government needs to support the growth and development of the blockchain industry for significant contributions to the country’s economic and technological advancement.
“The protracted regulatory issues involving Binance have had significant implications for the industry. The detention of Mr. Tigran Gambaryan and Mr. Nadeem Anjarwalla, who later escaped from the country, has already begun to have detrimental effects on the industry in Nigeria,” reads the statement.
It was noted that these are affecting investments, with a significant drop in foreign investments and collaborations with Nigerian web3 startups, which are critical to create jobs, fuel innovation and foster Nigeria’s economic growth.
“To mitigate these risks and promote a thriving blockchain ecosystem, BICCoN urges the Nigerian government to prioritize constructive dialogue that will lead to a healthy conclusion of the matter,” reads the statement.
Tigran Gambaryan is still in detention in Nigeria. Seven days ago, Nigeria’s minister of information and national orientation, Mohammed Idris, addressed claims that he is being held in unsavory prison conditions in Nigeria, or that his health is deteriorating. He said the claims are false, as Gambaryan is having the utmost fair treatment, with the protection of his legal and human rights throughout the judicial proceedings.
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