Binance, a popular cryptocurrency exchange, has confirmed that it knows about the Nigerian government’s lawsuit against it. The government is demanding $81.5 billion in damages and unpaid taxes.
A Binance spokesperson said the company is aware of the case and will provide updates when needed. However, Binance has not shared details about how it plans to respond.
The Nigerian government says Binance allowed illegal financial activities and did not pay the right taxes. Officials believe the platform contributed to economic problems by allowing unregulated cryptocurrency transactions.
Recently, Nigeria has been taking strict actions against crypto exchanges, and this lawsuit is part of that effort.
It is not yet clear how Binance will respond to the lawsuit. If the company loses the case, it may face heavy fines and stricter rules in Nigeria and other countries.
For now, Binance users in Nigeria should stay updated as the legal process continues. Binance has promised to share more information when necessary.
Stay tuned for more updates on this developing story.
