I recently saw a news story in the
media and it was “The city of Buenos Aires, Argentina is going to allow citizens to pay taxes with Bitcoin and cryptocurrencies”. That’s when I remembered my country that if we send crypto to Nigeria through Virtual Asset Service Providers, the government approved intermediary will convert it into local currency so that only the national fiat currency or Naira will be in the government’s books.
Through this, the people would have ensured the collection of all types of taxes and duties of the government, including their vehicle tax, income tax, driving license fee, traffic fines, etc., through this, the people would have been motivated to pay the correct and complete taxes and the government would have benefited from it, which the government could later convert into fiat money if it wanted. But the $81.5 billion lawsuit against Binance is a strict ban on cryptocurrencies including Bitcoin. Even if one side of the government wants it, and supports Bitcoin politically and economically, this case has become a very big exemplary obstacle. What is your opinion on this? This does not violate national law, because the government itself is not directly holding Bitcoin or crypto.
