Binance's tax evasion case was heard in October
Binance's tax evasion case will be heard on October 11 in a Nigerian court. Binance was charged with four counts of tax evasion and failure to declare to the Nigerian Federal Revenue Service (FIRS).
Binance's lawyer, Ayodele Omotilewa, asserted that the allegations were baseless and requested that they be withdrawn. Judge Emeka Nwite granted more time to prepare.
The Nigerian government accused Binance of putting pressure on the naira through cryptocurrency trading. In March, Binance stopped transactions related to naira.
The court's decision in October will greatly impact Binance's operations in Nigeria and could set a precedent for other exchanges.
Conclude
The trial will clarify legal issues related to the operation of cryptocurrency exchanges in Nigeria, with the decision likely to affect the cryptocurrency situation in the country.
