Nigerian Court Orders Binance to Relinquish Data of All Nigerians Trading on its Platform: Report
Summary
A Nigerian court has ordered Binance to provide comprehensive information on all Nigerian traders on its platform to the country's Economic and Financial Crimes Commission (EFCC). The EFCC seeks data on all Nigerian traders, not just the top 100 users, and all transaction history. Nigeria is cracking down on the crypto industry, particularly targeting Binance for allegedly enabling illegal capital outflows. Nigerian authorities have detained two Binance executives and proposed a 400% increase in registration fees for crypto firms. The court hearing for the detained executives is scheduled for Wednesday. Binance and the EFCC have not responded to requests for comment.
