A Nigerian court will commence the trial against cryptocurrency exchange Binance on October 11, over charges of tax evasion, the judge handling the case announced on Friday.
Binance is facing four counts of tax evasion, including failure to register with Nigeria’s Federal Inland Revenue Service (FIRS) for tax purposes. While similar charges against two of its executives were dropped on June 14, they still face separate money laundering charges, which they both deny.
On Friday, Binance representative Ayodele Omotilewa appeared in court and pleaded not guilty to the four charges before Judge Emeka Nwite. Binance has not issued an immediate comment but has previously stated that the charges should be dismissed.
Nigeria has criticized Binance for its currency woes after cryptocurrency platforms became the preferred choice for trading the Nigerian naira amid the country’s struggle with chronic dollar shortages and a record low currency value.
