A Nigerian court will commence the trial of cryptocurrency exchange Binance on October 11 over tax evasion charges, as announced by the presiding judge on Friday.
Binance faces four counts of tax evasion, including failing to register with Nigeria’s Federal Inland Revenue Service for tax purposes. Similar charges against two of its executives were dropped on June 14, though they still face separate money laundering charges, which they deny.
At Friday’s hearing before Judge Emeka Nwite, Binance representative Ayodele Omotilewa pleaded not guilty to the four charges.
While Binance has yet to comment on the latest development, it has previously called for the charges to be dismissed.
Nigeria has attributed some of its currency issues to Binance, as cryptocurrency websites have become popular platforms for trading the Nigerian naira amid the country’s persistent dollar shortages and the naira’s decline to record lows.