Nigerian Binance users are excluded from airdrops due to ongoing legal disputes with the government. Binance faces multiple criminal charges, including an $81 billion fine for alleged illegal operations. The ban has frustrated users, particularly among the youth who sought opportunities for free crypto.
Nigerian users of Binance are currently barred from participating in airdrops due to ongoing legal disputes between the exchange and the Nigerian government. Binance faces multiple criminal charges, and a judge has postponed a significant case involving an $81 billion fine until April 7. This decision has caused frustration among Nigerian crypto users who are missing opportunities to earn free crypto through airdrops.
As reported, individuals in Nigeria attempting to access Binance’s web3 quests for crypto giveaways have encountered notices indicating that the service is unavailable. Local trader Chike Nnadi lamented the situation, stating, “It’s a pity that for a crypto-loving country like Nigeria, our access to the industry is becoming severely limited as the days go by.” These web3 quests, which involve simple tasks for crypto rewards, have been popular among young Nigerians, enabling participants to earn potentially up to $50 daily for their efforts.
Currently, Binance has over 380,000 active users in Nigeria, many of whom have expressed their dissatisfaction with the recent restrictions. Nigerian crypto analyst Rume Ophi indicated that such bans limit cryptocurrency adoption in a nation where access to digital assets remains significantly restricted. Last year, Binance had already limited access to its peer-to-peer platform and removed listings for the digital version of the naira, Nigeria’s fiat currency.
The ongoing conflict has escalated, resulting in the arrest and detention of Binance executives. Notably, Tigran Gambaryan, Binance’s US-based head of financial compliance, spent eight months in detention before being released. The Nigerian government also has filed charges against Binance related to money laundering and tax evasion, and in February sought to impose an $81 billion fine for alleged economic damages resulting from the company’s operations.
The latest development in this legal saga occurred on Monday when Justice Inyang Ekwo postponed the proceedings, leaving the question of whether the case will proceed to trial unresolved until next month.
In summary, Nigerian Binance users are facing significant limitations in accessing airdrops amidst a legal conflict with the government, resulting in widespread frustration. The repercussions of this ongoing legal battle have extended to arrests of company officials and previous restrictions on the platform. As Nigeria navigates this restrictive environment, the future of cryptocurrency adoption in the nation remains uncertain.
Original Source: www.dlnews.com
