Connect with us

Regulation

Tigran Gambaryan Health Worsens, Binance Exec Denied Legal Access

Published

on


The family of Tigran Gambaryan, an U.S. citizen and executive at Binance, is urgently calling on the Nigerian government to release him from detention. They have sounded alarm rapidly deteriorating health conditions. Gambaryan has been held in Kuje Prison since February 26. At the time, he was taken into custody after a meeting with Nigerian authorities in Abuja.

Binance Exec Tigran Gambaryan’s Family Pleads For Release

Since July 26, Tigran Gambaryan’s legal team has been unable to visit him at Kuje Prison. This is a violation of both the Nigerian Constitution and Section 45 of the Nigerian Prisons Regulations. Moreover, this section mandates that “all prisoners, other than prisoners under sentence, shall be allowed all reasonable opportunities daily of communicating with their friends or legal adviser, and they may write and receive letters.”

The denial of access to his legal representatives has raised concerns about his right to a fair trial and his overall well-being. Furthermore, Tigran Gambaryan’s health has significantly declined during his time in detention. He suffers from a herniated disc, a condition that has worsened in custody and now requires highly specialized and risky surgery.

In addition to this, the Binance exec has endured multiple throat infections and pneumonia, which have necessitated further surgery to remove his tonsils. His wife, Yuki Gambaryan, has expressed deep concern over his deteriorating condition. She noted that he is now wheelchair-bound and mostly bedridden.

“My husband Tigran left our home for a work trip almost six months ago, and I have no idea when he will be back. Now his health is in a shockingly bad condition and getting worse by the day,” Yuki said in a heartfelt plea to the Nigerian government.

She added, “The herniated disc in his back has worsened to the point where it might leave permanent damage and affect his ability to walk. My once fit and healthy husband, who loves working out, is now wheelchair-bound due to a treatable condition that has not been properly addressed.”

Lack Of Medical Care

Tigran Gambaryan’s situation has been exacerbated by the lack of medical care available to him in prison. He is now taking blood thinners to prevent blood clots due to his prolonged bedridden state. Furthermore, his medical records are being held by the prison. This further complicating his access to proper care.

Previously, Gambaryan contracted malaria while in Nigerian detention. Moreover, he even collapsed in court during a hearing, underscoring the severity of his condition. Hence, Yuki’s emotional plea highlights the impact of Tigran’s detention on their family, particularly their two young children.

“I recently found our five-year-old son crying on the floor of our living room. ‘I miss my daddy’ was all he said. He cannot understand why his father has been gone for so long. I had no idea how to comfort him. It was simply devastating,” she said. Yuki added,

“Our ten-year-old daughter is trying her best to be strong in this traumatic situation we find ourselves in. Her resilience makes me proud and sad at the same time because this is not anything a child should endure.”

The Gambaryans reside in Georgia, USA, and Tigran last saw his family on February 24, just days before detainment. He was initially invited to Nigeria by the authorities for a meeting in Abuja. However, the circumstances leading to his prolonged detention remain unclear.

The Nigerian court went on holiday on July 16. Subsequently, it adjourned the next hearing in the Binance exec’s case to October 11. However, since the adjournment, the conditions of his detention have worsened significantly, raising alarms about his safety and well-being.

✓ Share:

Kritika Mehta

Kritika boasts over 2 years of experience in the financial news sector. Currently working as a crypto journalist at Coingape, she has consistently shown a knack for blockchain technology and cryptocurrencies. Kritika combines insightful analysis with a deep understanding of market trends. With a keen interest in technical analysis, she brings a nuanced perspective to her reporting, exploring the intersection of finance, technology, and emerging trends in the crypto space.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





Source link

Regulation

Japan Set To Classify Cryptocurrencies As Financial Products, Here’s All

Published

on


Cryptocurrency investors in Japan are bracing for impact following a plan to reclassify digital assets as financial products. While the plan has elicited excitement from cryptocurrency enthusiasts in the Far East, the ambitious plan will have to scale several legislative hurdles.

Japan Targets Reclassification Of Cryptocurrencies As Financial Products

According to a report by Nikkei, Japan’s Financial Services Agency (FSA) is inching toward classifying cryptocurrencies as financial products. Per the report, the FSA intends to achieve the reclassification via an amendment to the Financial Instruments and Exchange Act.

Currently, digital assets in Japan are considered crypto assets conferred with property rights and seen as payment means. Under the FSA’s plans, cryptocurrencies in Japan will be treated as financial products in the same manner as traditional financial products.

The FSA says it will adopt a slow and steady approach toward the reclassification, carrying out “a private expert study group” to test the waters. If everything goes according to plan, the FSA will submit the amended bill to Parliament in early 2026.

The classification of cryptocurrencies as financial products will have far-reaching consequences for the local ecosystem. Experts say treating cryptocurrencies as financial products will bring Japan closer to a crypto ETF launch amid a changing regulatory landscape.

Furthermore, the move may lower current cryptocurrency taxation for local investors since existing capital market rules will apply to the asset class.

A Fresh Bill For Crypto Insider Trading Is Underway

Apart from the reclassification, the FSA disclosed plans for new legislation against insider trading. The move flows treating cryptocurrencies as financial products and will strengthen existing investor protection rules.

“It is a direction to establish a new insider trading regulation that prohibits trading based on unpublished internal information,” said the FSA. “We will develop laws to prevent unfair transactions.”

However, Japan’s cryptocurrency scene is heating up to a boil, driven by local and international players. Last week, stablecoin issuer Circle secured approval from the FSA for USDC with top exchanges set to list the stablecoin.

Japan’s Metaplanet has tapped Eric Trump to join its Strategic Board of Advisors as it continues to load up Bitcoin.

✓ Share:

Aliyu Pokima

Aliyu Pokima is a seasoned cryptocurrency and emerging technologies journalist with a knack for covering needle-moving stories in the space. Aliyu delivers breaking news stories, regulatory updates, and insightful analysis with depth and precision. When he’s not poring over charts or following leads, Aliyu enjoys playing the bass guitar, lifting weights and running marathons.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





Source link

Continue Reading

Regulation

Kentucky Governor Signs Off On ‘Bitcoin Rights’ Bill, Strengthening Crypto Protections

Published

on


Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

In what is being dubbed a major development in the crypto regulation space, the Governor of the US state of Kentucky, Andy Beshear, has signed the ‘Bitcoin Rights’ bill into law. The law promises to safeguard protections for Bitcoin (BTC) users.

Bitcoin Rights Bill Comes Into Effect

Crypto regulations continue to evolve under pro-crypto US President Donald Trump’s administration. In the latest development, Kentucky has become the newest state to enshrine protections for digital asset users.

In an X post published on March 24, crypto advocacy group Satoshi Action Fund announced that Governor Beshear had signed the much-anticipated Bitcoin Rights bill into law. The post stated:

The right to self-custody, run a node, and use of digital assets is now protected for millions of Americans without fear of discrimination.

The bill was first introduced to the Kentucky House by Rep. Adam Bowling on February 19. According to the bill’s description, it seeks to safeguard users’ rights to use digital assets and self-custody wallets. Additionally, it aims to prohibit local zoning changes that discriminate against crypto mining operations.

The legislation outlines guidelines for running a digital asset node and excludes digital asset mining from money transmitter license requirements. It also clarifies that crypto mining or staking is not considered an offer or sale of securities.

On February 28, the bill passed Kentucky’s House of Representatives with a unanimous vote of all 91 representatives in favor. It later passed the Kentucky Senate on March 13, receiving backing from all 37 senators.

Kentucky’s proactive stance toward cryptocurrencies isn’t new. Earlier this year, the state became the 16th US state to introduce legislation seeking to create a Bitcoin strategic reserve.

Meanwhile, neighboring state Arizona is also joining the crypto movement. A recent X post by Bitcoin Laws revealed that Arizona’s House Rules Committee has passed two Bitcoin reserve bills — SB1373 and SB1025. These bills will now head to a full floor vote.

Renewed Optimism Under Trump Administration

Following Trump’s victory in the November presidential election, cryptocurrency regulations in the US are evolving rapidly, with many states introducing legislation aimed at strengthening their digital asset ecosystems and attracting crypto businesses.

Positive changes in crypto regulations are encouraging industry businesses to expand. For instance, leading crypto trading platform Coinbase recently announced plans to hire 1,000 employees in the US.

The Trump administration has also witnessed several lawsuits being dropped against major crypto entities, including Kraken, Coinbase, Gemini, and others. At press time, Bitcoin trades at $87,399, down 0.2% in the past 24 hours.

bitcoin
BTC trades at $87,399 on the daily chart | Source: BTCUSDT on TradingView.com

Featured Image from Unsplash.com, chart from TradingView.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



Source link

Continue Reading

Regulation

US SEC Drops Charges Against Hawk Tuah Girl Hailey Welch

Published

on


Hawk Tuah girl Hailey Welch, known for her association with the controversial $HAWK token, has been cleared of any wrongdoing after a lengthy investigation by the U.S. Securities and Exchange Commission (SEC). The SEC has decided not to press charges against Welch in connection with the rapid rise and subsequent collapse of the meme-based cryptocurrency.

US SEC Investigation Into Hawk Tuah Girl Concludes Without Charges

The SEC had launched an investigation into the $HAWK token after its dramatic price drop. The token, which was linked to Welch’s viral persona, initially saw a market cap surge to $490 million before crashing by over 90%. Investors who were impacted by the crash filed a lawsuit against those behind the project, alleging that the coin had been promoted and sold without proper registration.

Hawk Tuah girl Hailey Welch, who cooperated fully with the investigation, expressed relief after the SEC’s decision. “For the past few months, I’ve been cooperating with all the authorities and attorneys, and finally, that work is complete,” Welch told TMZ.

Her attorney, James Sallah, confirmed that the SEC had closed the case without any findings against her, adding that there would be no monetary sanctions or restrictions on Welch’s future involvement in cryptocurrency or securities.

This Is A Developing News, Please Check Back For More

✓ Share:

Kelvin Munene Murithi

Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





Source link

Continue Reading

Trending

Copyright © 2024 coin2049.io