Binance Hit with $10 Billion Fine by Nigerian Government

Binance Hit with $10 Billion Fine by Nigerian Government



Binance is grappling with a substantial penalty, following a massive $4.3 billion settlement with U.S. authorities, as agreed with the Department of Justice. In a significant development, the Nigerian government is levying a $10 billion fine against the cryptocurrency exchange Binance amidst an investigation into alleged manipulation of the foreign exchange rate concerning the naira, as confirmed by special adviser Bayo Onanuga in a BBC interview on March 1.



This action comes on the heels of the detention of two Binance executives who were in Nigeria to engage with the authorities, following the government's announcement of intentions to prohibit the crypto entity's operations within the country. Although the identities of the Binance delegates have been kept under wraps, it has been reported that one is American and the other


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#Binance, #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #News, #Nigeria, #Regulations

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