A court in Nigeria has postponed the long-awaited money laundering trial against crypto exchange Binance and two of its executives until May 17th. The trial was initially set to begin on May 2nd but was adjourned yet again.

The delay came after lawyers representing Binance stated they had not received certain necessary documents from prosecutors relating to the alleged money laundering case.

The judge granted the adjournment to allow Binance's legal team time to review the documents before proceedings can move forward.

Executives Remain in Custody The trial involves Binance's former regional manager Nadeem Anjarwalla and executive Tigran Gambaryan, who has been detained in Nigeria since February.

Both men, along with Binance itself, were charged with conspiracy to launder money after entering Nigeria to address claims that the exchange manipulated the local naira currency.

Anjarwalla escaped custody and fled to his native Kenya, where his extradition proceedings are now underway according to Interpol. However, Gambaryan remains in Nigerian custody with a bail hearing also scheduled for May 17th.

Separate Tax Evasion Charges The money laundering charges are distinct from separate tax evasion allegations Nigeria's anti-corruption agency levied against Binance, Gambaryan and Anjarwalla earlier this year.

All parties have pleaded not guilty in both the money laundering and tax evasion cases, which Binance has criticized as lacking merit.

The charges came around the same time Binance announced plans to cease supporting naira transactions in Nigeria, leading to questions around potential retaliatory motivations behind the prosecutions.

Global Scrutiny Persists While Binance founder CZ received just a four-month sentence in the U.S. last month for an anti-money laundering violation, the Nigerian cases reflect broader regulatory scrutiny facing the leading crypto exchange worldwide.

Authorities in multiple jurisdictions have targeted Binance over compliance issues and alleged financial crimes in recent years as the platform rapidly expanded.

As one of crypto's most dominant and controversial companies, Binance's legal battles are being closely watched by the industry and regulators alike. The upcoming May 17th hearing could finally shed more light on the substance of Nigeria's specific allegations.