Quote from: Tmoonz on Today at 09:48:40 AM

Quote from: CryptSafe on February 29, 2024, 08:42:59 AM

I have long anticipated this particular event between the Nigeria government and binance to take place in the future which is happening now. I remember in my previous comments on a topic created here and the other platform where I said that the government would soon begin clamp down on binance just to get the list of Nigerians registered on their platform since their inception and here it is taking shape. I believe all these fight like I Initially said is just to get at binance to pay tax of all the transaction charges they've been benefitting from Nigeria p2p trade deals.

I believe this is amongst the reasons why the clamp down is taking a different tone altogether and this was the response from the CBN governor when asked about the binance clampdown;
“In the last four years, more than $26 billion have been funnelled through Binance without trace.”

I would not be surprised that some powers that be themselves are into the Crypto currency trade and are just hiding behind playing innocent but doing the unthinkable just to protect or cover up their dirty act with the funds under their custody.

In all, the major reasons behind this scuffle is just taxation. The Nigeria government just wants binance to pay tax of all transactions they have conducted on the Nigeria binance p2p platform which they want to benefit from that's all. That is a huge amount of money which they know themselves could benefit from through channeling it to other means in the name of projects and other engagements.

My concern now is this, would the federal government charge binance to pay for tax in arrears right from their inception and also charge Nigerians registered with binance to pay tax in same fate as they have begin to put pressure on binance to give them list and details of Nigerians registered with them right from their inception.

Your thoughts and opinions are welcomed.

Ref.

https://dailypost.ng/2024/02/28/naira-rescue-nigeria-govt-detains-binance-executives-amid-crackdown/

https://gazettengr.com/nsa-ribadu-detains-two-binance-executives-in-abuja-demands-list-of-nigerians-on-global-crypto-platform/

Our government with their way of indulging in extortion in a form of a way I called misplaced priority, their could have been a better way of lifting the economic downtime than the way they are going about it, corruption at the highest order. Definitely are we are going to grow a thicker skin for survival. What a country political leaders without vision and plans for their citizens. Their actions can never add values to the economy it has always been their selfish interest.

Of a truth it has always been their selfish interest and self agenda first. They do not think about the average citizens of the country. All these tit for tat fight going on now with binance is just to get their own share of the cake by imposing tax on crypto related transactions as the case may be but binance objected because they are not benefiting from the p2p transactions as it is done with zero (0) fee and federal government decided to tag it to be a currency devaluation battle to cover up their exposed intentions.
Of lately, binance decided to cut of all engagement with NGN on their platform. No more NGN trading pairs and I pray they do not decide to bar Nigeria from operating with binance because if they do that, it would be a bit inconvenience for some people but both parties would have to bear whatever that comes out as the result of their actions.