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The exchange could return as a FIU-registered firm after paying the fine, the report added.

The Nigerian court also ruled that the Binance exchange can be served the FIRS tax evasion charges through its executive Tigran Gambaryan.

Nadeem Anjarwalla, who escaped Nigerian custody in March, could be extradited back to the country within the week, one local media outlet reported citing government sources.

Nadeem Anjarwalla, who escaped Nigerian custody in March, could be extradited back to the country within the week, one local media outlet reported citing government sources.

Tigran Gambaryan, Binance’s compliance head, who remains jailed in Nigeria, is suspected of having Malaria, a family spokesperson told CoinDesk.

Tigran Gambaryan, Binance’s compliance head, who remains jailed in Nigeria, is suspected of having Malaria, a family spokesperson told CoinDesk.

The Binance executive has been detained in Nigeria since February.

Binance, the world's largest cryptocurrency exchange, has been fined approximately $2.2 million (18.82 crore INR) for providing services to Indian clients without adhering to the nation's anti-money laundering rules, India's anti-money laundering

Canadian regulators hit Binance with a C$6 million ($4.3 million) fine on Tuesday, alleging the crypto exchange committed two separate “administrative violations” of the country’s financial regulations.

A Binance team found that "VIP" clients – those trading more than $100 million per month – were engaging in pump-and-dump schemes and wash trading, the Wall Street Journal said.