TechFlow reported, according to Cointelegraph, the Nigerian government has denied speculation about potentially imposing a $10 billion fine on cryptocurrency exchange Binance, calling it a misquotation. Binance also stated it has not received any notice regarding such a fine and does not intend to negotiate with the government on this matter. Cryptocurrency exchanges in Nigeria have faced regulatory scrutiny, with some platforms already banned. Binance's P2P services in Nigeria have been affected, and the Nigerian Naira has been removed from the platform. Last December, the central bank lifted a two-year ban on banks facilitating cryptocurrency transactions, while issuing regulatory guidance for virtual asset service providers.
Previous report, the Nigerian government demanded that Binance pay at least $10 billion in compensation.
