Nigeria Withdraws Tax Accusations Against Binance Executives What Comes Next

Key Points
– Nigerian tax agency has dropped tax charges against Binance executives Gambaryan and Anjarwalla due to international pressure.
– Charges now solely directed at Binance itself.
– Executives still face money laundering charges with a hearing scheduled for June 19th.
The Nigerian Federal Inland Revenue Service (FIRS) has decided to withdraw tax allegations against Binance executives Tigran Gambaryan and Nadeem Anjarwalla following pressure from the international community. Despite this, the focus has now shifted to Binance as the sole defendant, raising uncertainties for the cryptocurrency giant.
This shift in charges comes after strong international intervention, including a plea from U.S. federal prosecutors to the U.S. Department of Justice to intervene in Nigeria’s legal proceedings. Initially, both Gambaryan and Anjarwalla were facing tax charges from FIRS.
The recent development means that Gambaryan is no longer required to attend court for the tax case, with Binance now bearing the legal burden alone. The decision to alter the charges is believed to have been influenced by a letter signed by more than 100 former senior executives, expressing concerns about Gambaryan’s detention conditions at Kuje Prison, notorious for housing dangerous criminals in Nigeria.
Despite this positive turn of events, Gambaryan and Anjarwalla are not completely in the clear as they still have pending money laundering charges to contend with. The next court hearing for this case is scheduled for June 19, during which an application for the enforcement of fundamental rights will be considered.
The legal battle is expected to resume on June 20, with Gambaryan remaining in custody at Kuje Prison.
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Tags: Binance, Crypto Regulations.