Thu 20 Feb 2025 ▪
4 min read
▪
by
Luc Jose A.
Cryptos have often been seen as a challenge for regulators, but rarely has a state struck as hard as this. Indeed, Nigeria, one of the most influential economies in Africa, has just filed a high-profile lawsuit against Binance, the largest crypto exchange platform in the world. The government is demanding $81.5 billion, a colossal amount that, according to Nigerian authorities, corresponds to unpaid taxes and major economic damages. This case marks a new escalation in the standoff between states and giants of the crypto sector. Amid allegations of tax fraud, employee detentions, and diplomatic pressures, Binance finds itself at the center of a dispute that far exceeds legal boundaries.