The Federal Inland Revenue Service (FIRS) of Nigeria has withdrawn tax evasion charges against Binance executives, Tigran Gambaryan and Nadeem Anjarwalla. The charges, filed in March, accused Binance of four counts of tax evasion, including failure to register with the FIRS, failure to deduct VAT from crypto trades, and aiding users in tax neglect.

The saga between Nigeria and Binance began with accusations that the exchange contributed to the naira's devaluation. Binance CEO Richard Teng alleged that Nigerian officials demanded a $150 million bribe to settle the charges, a claim Nigeria dismissed as a diversionary tactic.

Despite the withdrawal of tax evasion charges, Gambaryan and Anjarwalla remain defendants in a money laundering case. Meanwhile, US lawmakers have requested the president to secure the release of the detained Binance executive due to his deteriorating health. This development is a positive step towards resolving the ongoing dispute and is indicative of the dynamic nature of the crypto market.