Nigerian Government Frees Binance Executive After Long Detainment

Nigerian Government Releases Binance Executive After Seven Months

On October 23, the Nigerian Government frees Binance executive Tigran Gambaryan by officially withdrawing all charges against him after more than seven months of detention. Given his non-senior role at Binance and deteriorating health, the Economic and Financial Crimes Commission (EFCC) lawyer cited these factors as key reasons for dismissing the charges. This case has drawn close attention from the global crypto community, illustrating the ongoing challenges crypto professionals face in navigating complex international legal landscapes.

Ripple Challenges SEC’s Stance with Appeal Filing

On October 25, Ripple Labs took a bold step by filing a Form C in the US Court of Appeals for the Second Circuit, specifically challenging a recent SEC ruling regarding XRP’s institutional sales. Ripple’s chief legal officer, Stuart Alderoty, confirmed the move, clarifying that it seeks a de novo review of the case. Notably, this legal action comes after a $125 million fine was imposed on Ripple by the US District Court for the Southern District of New York in August, thereby intensifying the ongoing debate over cryptocurrency regulation and compliance. Consequently, the case has attracted significant attention from industry stakeholders, who are eager to see how it unfolds.

FTX Estate Reaches $228 Million Settlement with Bybit

In a move echoing recent high-profile legal decisions, including when the Nigerian Government frees Binance executive, the FTX bankruptcy estate has agreed to a $228 million settlement with the Bybit exchange to recover funds for repaying creditors and former customers. As detailed in an October 24 legal filing, this settlement includes the withdrawal of $175 million in digital assets held on Bybit, along with an additional $53 million in BIT tokens set for sale to Mirana Corp, Bybit’s investment arm. The agreement is pending court approval, with a decision expected on November 20, marking a pivotal moment in the post-FTX financial landscape.

Denmark Proposes Tax on Unrealized Crypto Gains

The Danish Tax Law Council has put forward a recommendation for a new bill that would tax unrealized gains and losses on crypto assets from 2026, ultimately aiming to simplify the taxation process for Danish crypto investors, who have previously been subject to the capital gains tax approach. This suggested “inventory taxation” method would, therefore, treat investors’ portfolios as a single inventory, taxed annually regardless of asset sales. Notably, this could potentially set a precedent as other nations actively explore similar crypto taxation strategies.

These developments clearly reflect the dynamic and often unpredictable nature of the global cryptocurrency market, where legal, regulatory, and financial challenges persist; in this context, as the industry continues to evolve, the need for skilled crypto talent to navigate these complexities becomes increasingly apparent, especially considering the rapid pace of change and the heightened scrutiny from regulators. Moreover, as new issues emerge, professionals with specialized expertise are becoming essential to steer the industry toward sustainable growth.

Nigerian Government Frees Binance Executive After Long Detainment

Nigerian Government Releases Binance Executive After Seven Months

Ripple Challenges SEC’s Stance with Appeal Filing

FTX Estate Reaches $228 Million Settlement with Bybit

Denmark Proposes Tax on Unrealized Crypto Gains

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