ABUJA, Nigeria, Sunday, July 21, 2024 – A Nigerian court has set a trial date of October 11th, 2024, for cryptocurrency exchange Binance on charges of tax evasion.
Judge Emeka Nwite announced the date during a hearing on Friday, July 12th.
Binance faces four counts related to tax evasion, including failing to register with the Nigerian Federal Inland Revenue Service.
Similar charges against two Binance executives were dismissed in June, although they remain subject to separate money laundering allegations, which they deny.
Binance representative Ayodele Omotilewa pleaded not guilty to all charges at the hearing. The company has previously called for the charges to be dropped altogether.
Nigerian authorities have attributed some of the country’s currency struggles to Binance.
They allege that cryptocurrency platforms became popular channels for trading the Nigerian naira as the nation grappled with dollar shortages and a depreciating currency.
This development reflects ongoing scrutiny of cryptocurrency exchanges by some governments. The outcome of the trial is likely to be closely watched by the global cryptocurrency industry.
