Binance Faces $81.5 Billion Lawsuit in Nigeria: A Major Turning Point in Crypto Regulation

Nigeria is escalating its legal confrontation with Binance, the world’s largest cryptocurrency exchange. The Nigerian government has filed a lawsuit seeking $81.5 billion in damages, accusing Binance of tax evasion and contributing to the depreciation of the local currency, the naira. This follows months of negotiations and accusations about Binance’s operations.