Nigeria Hits Binance With $81 Billion Lawsuit Alleging Economic Damages And Unpaid Taxes

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Nigeria Hits Binance With $81 Billion Lawsuit Alleging Economic Damages And Unpaid Taxes

Nigeria launched a legal battle against the world’s largest cryptocurrency exchange Binance (CRYPTO: BNB) on Wednesday, demanding $81.5 billion in compensation for purported economic damages and unpaid taxes. What Happened: Nigerian authorities are blaming Binance for the country’s currency issues, Reuters reported, citing court documents. The lawsuit is seeking a court order for Binance to pay corporate income ...Full story available on Benzing…

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Nigeria Files $81.5 Billion Lawsuit Against Binance Over Economic Losses and Back Taxes - CryptoShrypto

Nigeria has filed a landmark lawsuit against Binance, the world’s largest cryptocurrency exchange, seeking a staggering $81.5 billion in damages. The lawsuit demands $79.5 billion for alleged economic losses caused by Binance’s operations in the country, along with an additional $2 billion for unpaid taxes covering the years 2022 and 2023. Nigerian authorities argue that Binance’s activities have significantly contributed to the depreciation of …

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Claim of $26bn ‘mystery money’ escaping Nigeria ‘complete nonsense’ – Binance executive - Business Hallmark

Tigran Gambaryan, Head of Financial Crime Compliance at Binance, has criticised the claims by Nigerian government  that the crypto exchange platform facilitated $26bn in transactions from unidentified sources. Last year, CBN Governor Olayemi Cardoso claimed that Binance facilitated $26bn in transactions from unidentified sources, an allegation the company previously dismissed as misleading. The matter came […] The post Claim of $26bn ‘mystery mo…

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Binance Acknowledges $81.5 Billion Nigerian Lawsuit, Promises Updates

Global cryptocurrency exchange platform Binance has officially acknowledged the $81.5 billion lawsuit filed against it by Nigerian authorities, stating that it is actively engaging with the relevant agencies and will provide updates on the matter.The Nigerian government recently launched legal action against Binance, accusing the company of enabling illicit financial transactions, manipulating the foreign exchange market, and violating local reg…

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The conflict between Nigeria and Binance reached a new height with a judicial complaint of unprecedented magnitude. Accusing the platform of tax evasion, money laundering and foreign exchange market manipulation, the Nigerian authorities are demanding far-reaching compensation. This legal arm could well redefine the regulatory framework of cryptocurrency in Africa and beyond. The article Nigeria attacks Binance for $81.5 billion in losses appear…

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Nigeria blames Binance for high economic losses in the country. The crypto exchange is now expected to pay over 80 billion US dollars. Source: BTC-ECHO BTC-ECHO