Binance gives two conditions before they would register under SEC Crypto Program

[Salahmu]

Nigerian and their methods of operation I believe the two detained official are the people who are giving them this energy and momentum go act this way because they knew that without this two staff binance wouldn't pay heed to all their request in other for them to be released. Naturally I think what they are solely fighting for is for them to pay all the taxes they haven't paid since their operation in nigeria and if this is put into consideration or as term to get those staff released then they gonna lose big time, although I know Binance are capable and can pay such amount if needs be for them to get their staff released from the nigerian custody.

I believe that would be the reason why they have decided not to released those officials because there only chance of getting that money from binance is by keeping them on there custody, they are actually smart because they no that the moment they released them they would lose the opportunity of getting it, actually given a serious thought about the whole thing I think is totally beyond the direction most people are looking at it because since binance have not been able to comply to any of there demand, they have gone extreme in making sure that they pay for any amount they would have supposed to pay, so I believe they just sum all the money that makes it to be that huge and since there officials are under there custody they would have no option but to comply.

[Mr Reporter]

I have the feeling that the Nigerian government is bent on extorting money from Binance. I know they made one outrageous demands in the past which was later withdrew but based on who we have as president, it will be difficult for the government to let go without getting something from the rich exchange. If Binance open the door or negotiations today, you will see how fast they will address the issue and release the exchange executives. Binance have good reasons if they refused to register Nigerians in the platform.

You right I have same feelings to that the Nigeria government are bent on extortion from the binance exchange that why their are prolonging the matter till now..
Why is it that this shitted so called government are alway slow when good opportunities keep knocking our door step greediness don cover their eyes honestly speaking if I be one of binance executives registering Nigerians in the platform will cause lose to them because Nigerian government have wrong mindset to ward them..

[CryptSafe]

It is no longer news that the Nigeria government and binance has been at logger heads for a long time over taxation and release of their official under the custody of the Nigeria government. This case has lingered for a long time  now and the government still holding the official and making things very difficulty for a calm and amicable resolve by both parties.

However, they stated two reasons but I think the release of their executive is the major concern of the exchange.  Little wonder he is being used as a bait to get at binance but now they can not shy away from it as they gave it as a condition that must be met before they do anything in Nigeria.
I believe the other conditions would be better managed as it usually concerns about other aspects of Crypto policy and etc.

Do you think there would quickly be a resolve between the Nigeria government and binance so easily after all this long fight they have not stii resolved. Come to talk of it, both parties have nothing to lose as they would benefit from whatever agreement they reach.

SOURCE
https://nairametrics.com/2024/09/18/binance-sets-two-conditions-before-registering-under-nigerias-sec-crypto-program/?amp=1

Nigerian and their methods of operation I believe the two detained official are the people who are giving them this energy and momentum go act this way because they knew that without this two staff binance wouldn't pay heed to all their request in other for them to be released. Naturally I think what they are solely fighting for is for them to pay all the taxes they haven't paid since their operation in nigeria and if this is put into consideration or as term to get those staff released then they gonna lose big time, although I know Binance are capable and can pay such amount if needs be for them to get their staff released from the nigerian custody.

I do not think it is feasible telling binance to pay taxes in arrears because as at when this Crypto stuff got to Nigeria, the government have not really declared their stand on Crypto and it was a free will thing and banks were open to receiving Crypto transactions. No standing policy to hold anybody against trading Crypto not until few years ago the government put a ban through the CBN prohibiting banks from dealing on Crypto and I was thinking they would come up with a good policy to back up their actions as they have seen the revenue generated and possibly find a way to tap into it but here we are nothing has been done yet and they are busy dragging feet with binance and holding their officials as a ransom to making them do their biddings.

Binance already knows what the government stands to benefit from their deal and it would be a big loss if the government let go of this opportunity to get an extra source of revenue hence their demands before negotiation and the government knows that holding their official would enable them get a good landing in the agreement pact hence they are still holding onto the official till binance are ready to discuss things with them.

[Fiatless]

I do not think it is feasible telling binance to pay taxes in arrears because as at when this Crypto stuff got to Nigeria, the government have not really declared their stand on Crypto and it was a free will thing and banks were open to receiving Crypto transactions. No standing policy to hold anybody against trading Crypto not until few years ago the government put a ban through the CBN prohibiting banks from dealing on Crypto and I was thinking they would come up with a good policy to back up their actions as they have seen the revenue generated and possibly find a way to tap into it but here we are nothing has been done yet and they are busy dragging feet with binance and holding their officials as a ransom to making them do their biddings.

Binance already knows what the government stands to benefit from their deal and it would be a big loss if the government let go of this opportunity to get an extra source of revenue hence their demands before negotiation and the government knows that holding their official would enable them get a good landing in the agreement pact hence they are still holding onto the official till binance are ready to discuss things with them.

Asking Binance to pay tax in arrears is not just because there were no regulatory laws to back the tax. Maybe they might start calculating the tax when it was enacted and discuss the fine regarding the criminal offences. The Nigerian government was smart to hold Tigran Gambaryan to enable them to get the best deal. But  I am scared of the living conditions of the American citizen because he didn't look okay the last time he appeared in court.

I suspect that the reason why the court is not granting him bail is because of how his co-worker British-Kenyan executive Nadeem Anjarwalla escped from custody and left Nigeria. The Nigerian government want to also exploit them just like the US. The Nigerian market is a big one but the government should also know that Binance creates jobs and could be a good source of revenue.   

[CryptSafe]

I do not think it is feasible telling binance to pay taxes in arrears because as at when this Crypto stuff got to Nigeria, the government have not really declared their stand on Crypto and it was a free will thing and banks were open to receiving Crypto transactions. No standing policy to hold anybody against trading Crypto not until few years ago the government put a ban through the CBN prohibiting banks from dealing on Crypto and I was thinking they would come up with a good policy to back up their actions as they have seen the revenue generated and possibly find a way to tap into it but here we are nothing has been done yet and they are busy dragging feet with binance and holding their officials as a ransom to making them do their biddings.

Binance already knows what the government stands to benefit from their deal and it would be a big loss if the government let go of this opportunity to get an extra source of revenue hence their demands before negotiation and the government knows that holding their official would enable them get a good landing in the agreement pact hence they are still holding onto the official till binance are ready to discuss things with them.

Asking Binance to pay tax in arrears is not just because there were no regulatory laws to back the tax. Maybe they might start calculating the tax when it was enacted and discuss the fine regarding the criminal offences. The Nigerian government was smart to hold Tigran Gambaryan to enable them to get the best deal. But  I am scared of the living conditions of the American citizen because he didn't look okay the last time he appeared in court.

I suspect that the reason why the court is not granting him bail is because of how his co-worker British-Kenyan executive Nadeem Anjarwalla escped from custody and left Nigeria. The Nigerian government want to also exploit them just like the US. The Nigerian market is a big one but the government should also know that Binance creates jobs and could be a good source of revenue.   

Of course it was a very smart and calculated move by the government to hold the official because they know through that they could get the attention of binance to a round table negotiation but I think that would not be in play anytime soonest because from the looks no party is ready for a soft landing.

I fear that the health of the official may be deteriorating as the last time he appeared before the court, he looks so disorganised and sick. He is not properly taken care of under the custody of the government. Nothing should happen to that man otherwise there would be sanctions against Nigeria government.

Binance learnt it the hard way from the US government and became wise but Nigeria government was too late to stand up and do the same. There could be a better means of them resolving their differences as it relates their interests rather than holding an innocent man and the crypto community standstill.

[CryptopreneurBrainboss]

Do you think there would quickly be a resolve between the Nigeria government and binance so easily after all this long fight they have not stii resolved. Come to talk of it, both parties have nothing to lose as they would benefit from whatever agreement they reach.

Settlement go slove everything, make we forget this Cho Cho Cho wey FG dey do. We all know as this country dey be, if Bob risky no go prison but dey apartment (for 3 months) instead of prison, anything dey possible with the right connect.

FG never end this matter because Binance never cooperates with them, I just dey blame this new CEO sha because if na the old one, things will be resolved since. This new CEO just belike him no want they comot money for hand but wants to make more instead, see as them just they list every memecoins wey come out. Make Binance press money, them too make money from Nigerians but now self the taxes no go do we Nigerians any good but na still the FG them go chop am when Binance done pay. Binance sha dey lose money wey them suppose they make with cooperating with the government.

The best thing is for Binance to pay and their workers will be released.

[CryptSafe]

Do you think there would quickly be a resolve between the Nigeria government and binance so easily after all this long fight they have not stii resolved. Come to talk of it, both parties have nothing to lose as they would benefit from whatever agreement they reach.

Settlement go slove everything, make we forget this Cho Cho Cho wey FG dey do. We all know as this country dey be, if Bob risky no go prison but dey apartment (for 3 months) instead of prison, anything dey possible with the right connect.

FG never end this matter because Binance never cooperates with them, I just dey blame this new CEO sha because if na the old one, things will be resolved since. This new CEO just belike him no want they comot money for hand but wants to make more instead, see as them just they list every memecoins wey come out. Make Binance press money, them too make money from Nigerians but now self the taxes no go do we Nigerians any good but na still the FG them go chop am when Binance done pay. Binance sha dey lose money wey them suppose they make with cooperating with the government.

The best thing is for Binance to pay and their workers will be released.

Binance sef get enough to benefit from the Nigeria Crypto market.  Before binance stop the Nigeria p2p, Na their platform 99% of Nigeria Crypto community dey use for p2p trade and dem dey make money heavily from Nigerians wey dey use their platform for business. So to reason with Nigeria government and pay tax no suppose be their palava because them.don make serious money from Nigerians wey dey use their platform.

As for their official wey dey government custody, na binance make am still dey there because I no see any reason wey binance go give wey make dem no fit reason with the government. If na CZ, I believe say dem for don die this matter tey tey and business for dey go on and each party dey get their own cut as agreed.

As for  our government, we already know why dem dey chook eye dey press for the tax because na dem go gabadus the money. Dem never tire to pack money, dem no mind whatever e go cost dem to get that money out from binance as long as the official still dey with them, Na 50 50 for them.

[Ishicryptic]

It is no longer news that the Nigeria government and binance has been at logger heads for a long time over taxation and release of their official under the custody of the Nigeria government. This case has lingered for a long time  now and the government still holding the official and making things very difficulty for a calm and amicable resolve by both parties.

However, they stated two reasons but I think the release of their executive is the major concern of the exchange.  Little wonder he is being used as a bait to get at binance but now they can not shy away from it as they gave it as a condition that must be met before they do anything in Nigeria.
I believe the other conditions would be better managed as it usually concerns about other aspects of Crypto policy and etc.

Do you think there would quickly be a resolve between the Nigeria government and binance so easily after all this long fight they have not stii resolved. Come to talk of it, both parties have nothing to lose as they would benefit from whatever agreement they reach.

SOURCE
https://nairametrics.com/2024/09/18/binance-sets-two-conditions-before-registering-under-nigerias-sec-crypto-program/?amp=1

Nigerian and their methods of operation I believe the two detained official are the people who are giving them this energy and momentum go act this way because they knew that without this two staff binance wouldn't pay heed to all their request in other for them to be released. Naturally I think what they are solely fighting for is for them to pay all the taxes they haven't paid since their operation in nigeria and if this is put into consideration or as term to get those staff released then they gonna lose big time, although I know Binance are capable and can pay such amount if needs be for them to get their staff released from the nigerian custody.

Where two elephants are fighting it's the grass that will suffer and in this case of our Nigerian government versus Binance disagreement it is the staff that are still held in our prison and fellow Nigerians that are supposed to be enjoying naira p2p services that are feeling the pains. Our government is not crypto friendly and I don't think that they are bothered about the difficulties that Nigerians that trust Binance services are facing. On the other hand Binance is the number one and most reputable exchange in the world, they don't want to bow to the pressures and demands of the Nigerian government that is why their personals are still languishing in our prison. I hope that the two elephants will resolve their issues so that Nigerians will continue to enjoy Binance excellent services and the officials will regain their freedom as soon as possible.

[Obim34]

Do you think there would quickly be a resolve between the Nigeria government and binance so easily after all this long fight they have not stii resolved. Come to talk of it, both parties have nothing to lose as they would benefit from whatever agreement they reach.

Settlement go slove everything, make we forget this Cho Cho Cho wey FG dey do. We all know as this country dey be, if Bob risky no go prison but dey apartment (for 3 months) instead of prison, anything dey possible with the right connect.

FG never end this matter because Binance never cooperates with them, I just dey blame this new CEO sha because if na the old one, things will be resolved since. This new CEO just belike him no want they comot money for hand but wants to make more instead, see as them just they list every memecoins wey come out. Make Binance press money, them too make money from Nigerians but now self the taxes no go do we Nigerians any good but na still the FG them go chop am when Binance done pay. Binance sha dey lose money wey them suppose they make with cooperating with the government.

The best thing is for Binance to pay and their workers will be released.

Definitely all these will be resolved, both parties seems doing themselves more to less benefit or no benefit  than resolving and getting back into the market. Before our judgement on who should first stick out a hand for settlement, terms and conditions are likely to be registered and both of them won't give in to the other so easily without some level of concrete agreement which seems to be what is lacking for proper resolution.

Nigerians has been a good percentage of the community, but despite the ongoing situation on ground they are still making a lot of profits from other countries, while our government are busy clinging to their executives which hasn't yielded to no outcome, why not find alternatively a means of settlement. 

[CryptSafe]

Definitely all these will be resolved, both parties seems doing themselves more to less benefit or no benefit  than resolving and getting back into the market. Before our judgement on who should first stick out a hand for settlement, terms and conditions are likely to be registered and both of them won't give in to the other so easily without some level of concrete agreement which seems to be what is lacking for proper resolution.

Nigerians has been a good percentage of the community, but despite the ongoing situation on ground they are still making a lot of profits from other countries, while our government are busy clinging to their executives which hasn't yielded to no outcome, why not find alternatively a means of settlement. 

I agree with you that the feud between binance and Nigeria government would be resolved but I do not see it getting resolved any time soonest. If there is any turn of event that leads to a sudden change of course from binance then there is every possibility that CZ has intervened behind the scene to making sure this issue is resolved amicably because. No organization  I think would be willing to loose a market target irrespective of the fact that they already have other markets. Every market is a plus for organizations and as such they would want to maintain that  constant flow. Come to talk of it, Nigeria is a large market target for the crypto organizations and this is why her government is bent on making sure they get everything they want from them by all means since they have the population to capitalize on.