[Crypto] Nigeria high court demand Binance to submit Nigeria users data.

[Igebotz]

The federal high court sitting at Abuja has asked Binance to cooperate with the Nigeria Government and give data of all users to the Govemment.

What do you guys think? Will Binance defy to grant a local law request? 

https://cointelegraph.com/news/nigerian-court-binance-disclose-user-data

[Charles-Tim]

What do you guys think? Will Binance defy to grant a local law request?

I think Binance will have no option than to comply because the two Binance executives may not be released. Court has extended their detainment for 2 more weeks but which I see as infinite because if Binance do not release the lists of Nigeria users, they will extent the detention again is my guess. I may be wrong but we will all see the end outcome.

[Igebotz]

What do you guys think? Will Binance defy to grant a local law request?

I think Binance will have no option than to comply because the two Binance executives may not be released. Court has extended their detainment for 2 more weeks but which I see as infinite because if Binance do not release the lists of Nigeria users, they will extent the detention again is my guess. I may be wrong but we will all see the end outcome.

If that's the case, I believe Binance will be forced to provide those records. If they refuse and prefer to try the legal route to get their personnel back, the Nigerian government will ensure that the case drags on for months.

On the other hand, what assurance does Binance have that after the list is provided to the Nigerian government, these persons will be released?

[Cantsay]

I think Binance will have no option than to comply because the two Binance executives may not be released.

If Binance should comply and provide the list to Court won't it affect them negatively? Won't they lose the trust of most of their customers in other countries?

To me it seems like they have placed binance in a tight spot - first they have to provide the requested data for those detention to be released but if they provide it users in other countries might lose their trust in binance for sharing personal information and financial data to government.

[Gideon99]

The federal high court sitting at Abuja has asked Binance to cooperate with the Nigeria Government and give data of all users to the Govemment.

What do you guys think? Will Binance defy to grant a local law request? 

https://cointelegraph.com/news/nigerian-court-binance-disclose-user-data

For me I think, this is not a good idea if binance should provide details of It customers then binance has loss trust from all customers around the world. If binance should provide the government with user details then binance is not a trusted exchange for anyone to keep or store your crypto, let's see how this will end but I'm certainly not sure this will work. What do you think binance is planning on for this case?

[Igebotz]

I think Binance will have no option than to comply because the two Binance executives may not be released.

If Binance should comply and provide the list to Court won't it affect them negatively? Won't they lose the trust of most of their customers in other countries?

To me it seems like they have placed binance in a tight spot - first they have to provide the requested data for those detention to be released but if they provide it users in other countries might lose their trust in binance for sharing personal information and financial data to government.

They are centralised exchange that are regulated and required to follow local laws in whichever area they operate in, hence the Nigerian government has the power to request such data if they discover that the platform is being used for money laundering or funding terrorism. But, as far as I know, no country has gone this far, with the exception of the US government, which had a money laundering case with Binance last year but weren't interested in full user data. It would be a disaster if Binance released such information; trust would be lost, and they would lose a lot of money not only in Nigeria but throughout Africa.

If you can't protect my data why should I trust you with it... I understand why they are fighting hard not to give it out.

[Charles-Tim]

I think Binance will have no option than to comply because the two Binance executives may not be released.

If Binance should comply and provide the list to Court won't it affect them negatively? Won't they lose the trust of most of their customers in other countries?

To me it seems like they have placed binance in a tight spot - first they have to provide the requested data for those detention to be released but if they provide it users in other countries might lose their trust in binance for sharing personal information and financial data to government.

They are centralised exchange that are regulated and required to follow local laws in whichever area they operate in, hence the Nigerian government has the power to request such data if they discover that the platform is being used for money laundering or funding terrorism. But, as far as I know, no country has gone this far, with the exception of the US government, which had a money laundering case with Binance last year but weren't interested in full user data. It would be a disaster if Binance released such information; trust would be lost, and they would lose a lot of money not only in Nigeria but throughout Africa.

I do not think we actually know what might exactly happen, but what I will speculate is that people are people and most people are kind of foolish. People can easily be convinced or go the wrong way. If Binance release the data to EFCC or the federal government or whoever, you might first see people withdraw from Binance and later go back to use the exchange.

If you can't protect my data why should I trust you with it... I understand why they are fighting hard not to give it out.

Let us just conclude it that ones your personal information is submitted on those centralized platforms, you have no privacy pertaining the platform and where you send money to and from while using the exchange. Do not trust your information with another party but just you.

[Agbe]

They are centralised exchange that are regulated and required to follow local laws in whichever area they operate in, hence the Nigerian government has the power to request such data if they discover that the platform is being used for money laundering or funding terrorism. But, as far as I know, no country has gone this far, with the exception of the US government, which had a money laundering case with Binance last year but weren't interested in full user data. It would be a disaster if Binance released such information; trust would be lost, and they would lose a lot of money not only in Nigeria but throughout Africa.

If you can't protect my data why should I trust you with it... I understand why they are fighting hard not to give it out.

Exactly I have also said it before, if Binance was following the local exchange law all dis dramas would not happen but they were playing smart game and also used di ignorance of Nigerians authority to demselves. And di financial institutions dat wey supposed check all those things we just resting and never think of doing their work effectively because of corruption. And di way Nigerian government is about doing is to witch-hunt di list of users. USA na understanding country na, they would never asked if users data or information when they know dat citizens were using it to exchange cryptocurrencies. USA understand how things are work and not Nigerians government that trying to do over Sabi and over know.

[SmartGold01]

I believe binance can't release that details to the nigerian government I think it was like a kind of compliance that bind it's user and binance at large, and if that happens users don't mind to sue binance going against their contract.

[Charles-Tim]

I believe binance can't release that details to the nigerian government I think it was like a kind of compliance that bind it's user and binance at large, and if that happens users don't mind to sue binance going against their contract.

Do not trust any centralized exchange with your data. According to Binance privacy notice:

We may also share personal data with the following persons or in the following circumstances:


Affiliates: Personal data that we process and collect may be transferred between Binance companies as a normal part of conducting business and offering our Services to you. See Section 1 “Binance Relationship with you” and Section 2. “What Personal Data does Binance collect and process?”.

Third parties: We employ other companies and individuals to perform functions on our behalf. Examples include analysing data, providing marketing assistance, processing payments, transmitting content, and assessing and managing credit risk. The third-party service providers only have access to personal information needed to perform their functions but may not use it for other purposes. Further, they must process the personal information in accordance with our contractual agreements and only as permitted by applicable data protection laws. In accordance with and as far as provided by applicable law, your personal data may also be shared by third parties (i.e. another data controller) upon exercising your right to data portability. Please refer to Section 10 for more information on data portability.     

When you use third-party services (like when you connect your Binance account with your bank account) or websites that are linked through our Services, the providers of those services or products may receive information about you that Binance, you, or others share with them. Please note that when you use third-party services or Binance affiliate services which are not governed by this Privacy Policy, their own terms and privacy policies will govern your use of those services and products.

Legal Authorities: We may share your information with courts, law enforcement authorities, regulators, attorneys or other third parties:

(a) to comply with laws and legal obligations;

(b) for the establishment, exercise, or defence of a legal or equitable claim;

(c) to respond to law enforcement and regulatory requests, including (1) when we are compelled to do so by a subpoena, court order, search or seizure warrant, or similar legal procedure, or (2) for international law enforcement requests, pursuant to a mutual legal assistance treaty (MLAT) or letters of request;

(d) to comply with one or more forms of “travel rules” that require our transmitting of your information to another financial institution, regulatory authorities or other industry partners;

(e) when we believe in good faith that the disclosure of personal information is necessary to protect the rights, property or safety of our customers, Binance, or others, including to prevent imminent physical harm or material financial loss;

(f) to investigate violations of our Terms of Use or other applicable policies; or

(g) to detect, investigate, prevent or address fraud or credit risk, other illegal activity or security and technical issues, to report suspected illegal activity or to assist law enforcement in the investigation of suspected illegal or wrongful activity.

I do not think Binance will not share the data because they are centralized and it is indirectly on the exchange privacy notice that your data is not private with them (the exchange ) if you read it carefully.

When you are a step towards privacy is when you do not go for KYC.

[Charles-Tim]

JUST IN: NSA confirms Binance executive’s escape from custody

The Office of the National Security Adviser has confirmed that the detained Binance executive, Nadeem Anjarwalla, escaped from custody. It was reported that he escaped on Friday.

You can read more about it here: https://bitcointalk.org/index.php?topic=5487027.msg63855726#msg63855726

[Sim_card]

JUST IN: NSA confirms Binance executive’s escape from custody

The Office of the National Security Adviser has confirmed that the detained Binance executive, Nadeem Anjarwalla, escaped from custody. It was reported that he escaped on Friday.

You can read more about it here: https://bitcointalk.org/index.php?topic=5487027.msg63855726#msg63855726

Very funny story. When will Nigeria stop their corrupt act. How can a stranger escape in a strange land when he is under the police custody. This means that they escape of one of the detainees was arranged by people in that place where he was put in custody, and they would have paid them. So what would be the fate of the second guy who is escape was not arranged. Maybe that would happen later. I cannot trust this our government and leaders.

[Agbe]

JUST IN: NSA confirms Binance executive’s escape from custody

The Office of the National Security Adviser has confirmed that the detained Binance executive, Nadeem Anjarwalla, escaped from custody. It was reported that he escaped on Friday.

You can read more about it here: https://bitcointalk.org/index.php?topic=5487027.msg63855726#msg63855726

But according to other stories Nadeem Anjarwalla was not under the custody of SEC but was house arrest. And he uses the Ramadan fasting and prayer period to escape. Though that information is not yet confirmed but it is not far from the truth because government with her agencies have not given us the legit information. But now that Nadeem Anjarwalla has escaped what about the remaining guy, what will dey do?

[Mr. Allcrypto]

Nigeria my country, lol... I dey greet all of una wey dey come across this tori, I just say make I check news headline, only for me to see say them say one of the binance official way federal government been detain don escape from custody.
Nigeria no go stop to dey tell us jokes ... where our country dey even go sef?
Abeg make una shear updates on this matter make we for know wetin dey really sup.

[SmartGold01]

I think I read across this news from Opera few days ago say person dem detain don run like e com make think how things dey go because when things strong or if them don settled dem go carry another news take confused and deceived people say something like this happened. Bet me if time not taken this will be the dead of the case because people wey dey put fire for the matter don collect their shares for that them get do magomago for people so that we no go fit know how dis people take do their movement take tuama from where dem detained them.