The Nigerian parliament has threatened serious sanctions and new arrests if Binance does not meet all requirements for financial “gaps” that authorities have failed to close due to the loss of tax revenues from unregistered crypto exchanges in the country. In this regard, Binance has stopped all transactions in naira, the national currency of Nigeria.
But Nigerian authorities go further. According to FT’s report, security forces requested comprehensive data from Binance on the exchange’s 100 largest users in the last six months.
The crypto community associates all of Nigeria’s actions with attempts to revive the national currency but believes that they are too “oppressive” and will not bring results if pursued in this way.
Source: Ferra
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