Nigeria orders cryptocurrency firm to pay $10bn

The Nigerian government has ordered a cryptocurrency firm operating in the country to pay a fine of $10 billion for violating certain regulations.

The firm, which has not been named, was found to have been operating without the necessary licenses and permits, leading to the imposition of the hefty fine.

Authorities in Nigeria have been cracking down on cryptocurrency firms in recent years, citing concerns over money laundering and other illicit activities. This latest move is seen as a further step in the government’s efforts to regulate the industry.

It remains to be seen how the firm will respond to the fine, but experts believe it could set a precedent for other cryptocurrency firms operating in Nigeria.