US Congressman Pushes Bill for Release of Binance Executive Tigran Gambaryan Amidst Nigerian Detention Controversy

• Rep Rich McCormick recently introduced a significant piece of legislation concerning the release of a detained Binance executive.
• This move adds to the series of efforts aimed at securing the freedom of Tigran Gambaryan, who is currently held in Nigeria.
• Crypto supporters widely commend this legislative push, reinforcing their continual backing for Gambaryan.

Rep Rich McCormick’s bill advocates for the release of arrested Binance executive Tigran Gambaryan, reflecting ongoing support from the crypto community.

US Legislative Push for Gambaryan’s Freedom

US Congressman Rich McCormick has propelled new legislative measures to facilitate the release of Tigran Gambaryan, a Binance executive detained in Nigeria. The proposed bill, named “Urging the Government of Nigeria to immediately release Binance employee Tigran Gambaryan from imprisonment,” has been forwarded to the House Committee on Foreign Affairs. Gambaryan’s detention, linked to allegations of money laundering which also implicate Binance, has attracted considerable attention and support within the crypto community.

Nigerian Custody and Health Concerns

During a recent visit to Nigeria, US lawmakers French Hill and Chrissy Houlahan highlighted the troubling conditions faced by Gambaryan, who has reportedly contracted malaria and pneumonia. Despite these reports, local Nigerian prison officials maintain that Gambaryan is not in poor health. These conflicting reports further escalate concerns about his well-being and prompt calls for better medical attention and his immediate release.

Background: Nigeria’s Stance on Crypto

In the wake of sharp declines in the value of Nigeria’s local currency, authorities have increased scrutiny on cryptocurrency activities. The government attributes part of the blame to peer-to-peer (P2P) transactions and has since implemented bans on major digital asset exchanges, targeting entities like Binance. Gambaryan, alongside his colleague Nadeem Arjarwalla, was detained following these developments. Although Arjarwalla managed to escape, Gambaryan remains incarcerated, with the Federal Inland Revenue Service (FIRS) dropping tax evasion charges but the Economic and Financial Crimes Commission (EFCC) persisting with money laundering accusations.

Community and Legislative Support

Rep McCormick’s efforts signify growing legislative support for Gambaryan, intensifying pressures on Nigerian authorities. These moves are bolstered by strong advocacy from the crypto community, emphasizing human rights and the need for fair treatment. McCormick represents Gambaryan’s constituency in Georgia, highlighting the localized support and adding another layer of pressure to the Nigerian government.

Conclusion

The unfolding situation surrounding Tigran Gambaryan’s detention in Nigeria highlights the intricate interplay between international crypto regulations and human rights advocacy. As legislative efforts and community support continue to mount, the global crypto industry watches closely. The outcome of McCormick’s bill could set a significant precedent for the treatment of crypto executives and the broader regulatory landscape.