Binance Faces $2 Billion Tax Evasion Case in Nigeria as Court Delays Hearing to April 30

A Nigerian court has postponed the high-stakes tax evasion case against Binance to April 30, escalating tensions between the crypto exchange and Nigerian authorities. The case involves allegations of $2 billion in unpaid taxes and $79.5 billion in economic damages, with claims that Binance’s operations destabilized the Nigerian naira. This delay comes amid a broader regulatory crackdown on cryptocurrency platforms in the country.

Binance Tax Case in Nigeria Delayed Until April 30

A Nigerian court has postponed Binance’s tax evasion case to April 30. The case involves serious claims, with Binance accused of owing $2 billion in back taxes and $79.5 billion in economic damages. Nigerian authorities allege the crypto platform’s operations contributed to destabilizing the naira. The delay adds to the tension between Binance and Nigeria amid a wider regulatory crackdown on crypto platforms.

WazirX Creditors Approve Restructuring Plan for $230M Hack Victims

Crypto exchange WazirX has secured over 93% approval from creditors for its proposed Scheme of Arrangement, bringing victims of its $230 million July hack closer to partial asset recovery. The voting process, held from March 19 to March 28, involved over 141,000 creditors representing $195.65 million in approved claims. Of these, 131,659 creditors, holding $184.99 million, voted in favor. This exceeded the approval requirements under Singapore’s Companies Act, where parent company Zettai is based. If not approved, the process would have shifted towards liquidation, likely resulting in lower asset recovery for creditors.