The Federal High Court in Abuja, Nigeria has fined two crypto firms, Egomsinachi Road Autos Limited and Chimera Log & Haulage Services Limited, $30,000 for conducting unlicensed Tether (USDT) to naira transactions. The firms were charged with failing to report their transactions to the Special Control Unit on Money Laundering and operating without the proper authorization. This is the third instance of Nigerian crypto firms being convicted for illegal crypto trading, with another firm, Official Gredo, previously ordered to forfeit 140 million NGN to the government.



Other News from Today