Nigerian Authorities Fine Two Crypto Firms $30,000

According to Nairametrics, a Nigerian local news source, the Federal High Court in Abuja has convicted two crypto firms, Egomsinachi Road Autos Limited and Chimera Log & Haulage Services Limited, for engaging in illegal USDT-to-Naira transactions. This conviction, handed down by Justice Joyce AbdulMalik on Thursday, continues the Economic and Financial Crimes Commission’s (EFCC) aggressive enforcement against unlicensed crypto trading platforms in the country. As part of the judgment, the court has ordered the companies to forfeit N50 million (approximately $30,000) from their accounts to the EFCC recovery account.

Check out the hashd app. It gives you important crypto news and updates in short, simple and easy to read slides. Amazing!

iOS: https://links.hashd.co/ios

Android: https://links.hashd.co/android