Nigerian Court Delays Binance Trial Over Tax Evasion Charges

A Nigerian court has deferred the trial of the cryptocurrency exchange Binance over tax evasion allegations to June 14, due to the absence of Tigran Gambaryan, Binance’s head of financial crime compliance. Gambaryan, a U.S. citizen, was not presented at the initial court session, causing confusion and delay. Alongside Gambaryan, Nadeem Anjarwalla, Binance’s regional director for Africa, is also facing charges of tax evasion, including failing to register with Nigeria’s Federal Inland Revenue Service.
Binance CEO Richard Teng has criticized the Nigerian authorities for detaining the executives despite assurances of safe passage for their meetings in Nigeria. In addition to tax evasion, the Economic and Financial Crimes Commission (EFCC) in Nigeria accuses Binance and its executives of laundering over $35 million. While Gambaryan is in custody, Anjarwalla, who initially escaped but was later extradited from Kenya to Nigeria, is also awaiting trial.
As part of a crackdown on cryptocurrency trading, Binance has been ordered to delist the naira from its platform and provide information on all local crypto users. The case, closely watched by the global crypto community, highlights the challenges of regulating the fast-evolving cryptocurrency market and may set precedents for future regulatory actions and corporate compliance worldwide.
Additionally, the article mentions 99Bitcoins, a blockchain and cryptocurrency education sector resource that has introduced a Learn-to-Earn platform built on the Ethereum blockchain. This platform offers various educational tools, enabling users to earn cryptocurrency while learning about the crypto market. The presale of 99Bitcoins has raised over $400K, illustrating the project’s success and the growing interest in interactive crypto education platforms.