KuCoin Adds 7.5% Tax for Nigeria Users

To an extent, I agree regulation is aimed at filtering bad actors from this industry but introducing tax kills the aim of decentralization. Does this feel like governments are winning the war on this industry or do these giant exchanges just bend to the wind? I understand that some citizens are already used to paying taxes on their crypto transactions but this still seems odd to many Nigerians and I think many will be looking for a better way out. However, this new tax signifies official acknowledgment of Nigeria's crypto industry which could have an impact on market dynamics and investor confidence. Let's see how many exchanges will bend the knee as SEC is requiring exchanges and traders to re-register within 30 days as part of its plan to regulate digital assets