Nigeria orders cryptocurrency firm to pay $10bn

The Nigerian government has ordered a cryptocurrency firm to pay $10 billion in fines for violating the country’s financial regulations.

The firm, which was not named in the government’s statement, is accused of operating without the necessary licenses and permits and failing to comply with anti-money laundering and terrorist financing regulations.

This move by the Nigerian government is part of a crackdown on cryptocurrency trading in the country, as it seeks to regulate the industry and prevent illegal activities.

It remains to be seen how the cryptocurrency firm will respond to the government’s order and whether it will be able to pay the hefty fine.