EddieJayonCrypto
25 Mar 24
In a dramatic turn of events, Nigeria's tax authority has charged Binance, the world's largest crypto exchange, with tax evasion. The charges also involve two Binance executives who were detained by the government. The exchange is facing four counts of tax evasion, including "non-payment of Value-Ad...
In a dramatic turn of events, Nigeria's tax authority has charged Binance, the world's largest crypto exchange, with tax evasion. The charges also involve two Binance executives who were detained by the government. The exchange is facing four counts of tax evasion, including "non-payment of Value-Added Tax (VAT), Company Income Tax, failure to tax returns, and complicity in aiding customers to evade taxes through its platform." This comes after the Nigerian government accused Binance of processing criminal funds and manipulating the local currency exchange rate. Adding further complexity to the situation, one of the detained executives has reportedly escaped and may have left the country. This story continues to develop, and CoinDesk has reached out to Binance for comment.
Disclaimer: The opinions expressed by the writers at Grow My Bag are their own and do not reflect the official stance of Grow My Bag. The content provided on our site is not intended as investment advice, and Grow My Bag is not an investment advisor. We do not endorse buying or selling any cryptocurrencies or digital assets mentioned in our articles. High-risk investments in Bitcoin, cryptocurrencies, and digital assets require thorough due diligence, and all transfers and trades made are at your own risk. Grow My Bag is not responsible for any potential losses and participates in affiliate marketing.