Nigeria is actively seeking information from Binance regarding its top 100 users in the country and all transaction history spanning the past six months, according to a Financial Times report.
As a result, the detained executives may allegedly face charges related to currency manipulation, tax evasion, and illegal operations, per a Bloomberg report.
FT says Nigeria’s anti-corruption agency was granted permission to detain both Binance executives for 14 days, which concluded on Tuesday; there’s a proposed hearing to extend the court order scheduled for Wednesday.
Nigeria’s request for Binance’s top users in the country is a focal point in negotiations between the largest crypto platform and the top African crypto market.
Meanwhile, documents reviewed by FT reveal that Nigeria, through its national security adviser, has requested that Binance address any outstanding tax liabilities.
As conversational AI begins to take over the world, chatbots are being given a new lease of life.
Parcel delivery giant DPD recently had to disable part of its online support chatbot after it swore at a customer.
The demand for conversational AI is skyrocketing, and is set to explode to a mind-boggling $38 billion globally by 2029.
However, regulated sectors are still grappling with Natural Language Understanding (NLU) and Large Language Models (LLMs).
While an LLM might be able to sound like a human and understand context, regulated industries need high guard rails on an AI-driven approach.
Even the courts cannot agree on whether geofence warrants are legal, likely setting up an eventual challenge at the U.S. Supreme Court.
While Google is not the only company subject to geofence warrants, Google has been far the biggest collector of sensitive location data, and the first to be tapped for it.
Although the companies have said little about how many geofence warrants they receive, Google, Microsoft and Yahoo last year backed a New York state bill that would have banned the use of geofence warrants across the state.
The data showed Google received 982 geofence warrants in 2018, then 8,396 geofence warrants in 2019, and 11,554 geofence warrants in 2020 — or about one-quarter of all the legal demands that Google received.
But there is hope that Google shutting the door on geofence warrants — at least going forward — could significantly curtail this surveillance loophole.
