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Nigeria’s $81.5B Lawsuit Against Binance : A Warning To The Industry ?

Cryptos have often been seen as a challenge for regulators, but rarely has a state hit as hard. Indeed, Nigeria, one of Africa’s most influential economies, has just launched a resounding lawsuit against Binance, the largest crypto exchange platform in the world. The government is demanding 81.5 billion dollars, a colossal sum that, according to Nigerian authorities, corresponds to unpaid taxes and significant economic damages. This case marks a new escalation in the battle between states and the giants of the crypto sector. Amid accusations of tax fraud, detention of employees, and diplomatic pressure, Binance finds itself at the center of a dispute that far exceeds the legal framework.