Nigerian Court Postpones Binance Tax Evasion Trial to April 30

A Nigerian court has postponed the tax evasion trial against cryptocurrency exchange Binance and its executives until April 30, 2025, to allow the Federal Inland Revenue Service (FIRS) to respond to Binance's request to annul a previous court order allowing service of documents via email. The Nigerian government is pursuing $2 billion in back taxes and $79.5 billion in damages, alleging that Binance's activities have significantly harmed the economy and contributed to the depreciation of the Naira. Binance, which is registered in the Cayman Islands and has no physical presence in Nigeria, contends that the FIRS did not properly serve legal documents. The case is part of a broader crackdown on cryptocurrency platforms in Nigeria, which authorities accuse of facilitating capital flight and undermining the local currency market. In 2024, two Binance executives were detained amid these regulatory pressures, with one reportedly escaping custody while under house arrest. The outcome of this case could set a significant precedent for digital asset regulations in Nigeria.