📢 Heads up, Nigerian KuCoin users! 🇳🇬 Starting July 8, KuCoin's implementing a 7.5% VAT on transaction fees. But don't stress, it's not on the transaction amount, just the fee. For example, a 1,000 USDT transaction would see a 1 USDT fee plus a 0.075 USDT tax. So, you'd net 998.925 USDT. 💸

This move follows hot on the heels of Binance's tax evasion charges filed by the Nigerian government. Binance was accused of not deducting VATs from Nigerian traders, among other charges. 🏛️

What's next for Nigerian crypto users? KuCoin and Binance have already paused peer-to-peer services for the Nigerian naira. Will other exchanges follow suit with trade taxes? 🤔 Let's chat below! #KuCoin #CryptoTax #Nigeria