A Nigerian judge has announced that the trial against cryptocurrency exchange Binance, along with two of its executives, will be held sooner than expected.
The case, involving allegations of money laundering worth over $35 million, will now take place on September 2, a month earlier than initially planned.
The decision to expedite the trial came after defense lawyers requested a change in the hearing date. Binance, the world’s largest cryptocurrency exchange, and its executives – Tigan Gambaryan, head of financial crime compliance, and Nadeem Anjarwalla, regional manager for Africa – have been accused of laundering significant funds.
In addition to money laundering, Binance is also facing tax evasion charges.
While Binance and Gambaryan have denied these allegations, Anjarwalla escaped detention and left Nigeria before the trial began.
Gambaryan’s health has reportedly deteriorated during his imprisonment in Nigeria.
His wife, Yuki Gambaryan, has appealed to both the Nigerian and U.S. governments for his release, citing his deteriorating health and urging them to drop the charges against him.
The Nigerian government has blamed Binance for contributing to the country’s currency weakness, as cryptocurrency trading platforms became popular for trading the Nigerian naira amid chronic dollar shortages.
In response to these allegations, Binance announced in March that it would cease all transactions and trading in naira following a crackdown on cryptocurrency exchanges by Nigerian authorities.