Heads up, Nigerian crypto traders! KuCoin, a top global crypto exchange, will start charging a 7.5% value-added tax (VAT) on transaction fees from July 8. This applies to users registered in Nigeria and covers all transaction types on the platform. However, the VAT is only applied to the transaction fee, not the total transaction amount. The move has sparked concerns and questions about transparency and potential fraud, given that KuCoin is currently banned by the Nigerian government. Despite this, some see the VAT levy as a positive sign of potential future crypto regulation in Nigeria.