Binance Not Paying Taxes in Multiple Jurisdictions

CNBC reporter MacKenzie Sigalos has raised serious allegations of tax evasion against the cryptocurrency exchange Binance.

"Many countries now have a problem with the exchange because Binance isn't paying taxes in multiple jurisdictions," said @KenzieSigalos after a Binance employee escaped custody in Nigeria.

What happened: During CNBC's "Last Call," Sigalos mentioned that Binance is facing multiple lawsuits in Nigeria and the USA, and the recent escape of an exchange employee from Nigerian custody further complicates the situation.

Binance is facing increased scrutiny worldwide. In March, the Nigerian government arrested two Binance executives and imposed a $10 billion fine on the cryptocurrency exchange for manipulating exchange rates, leading to a nearly 70% drop in the Naira over the past few months.

The Nigerian government formally accused Binance of tax evasion in a lawsuit filed on Monday. The charges include failure to pay value-added tax and corporate income tax, failure to file tax returns, and assisting customers in tax evasion.

Additionally, the situation is complicated by the escape of Binance employee Nadeem Anjarwalla from Nigeria in the face of these allegations. Anjarwalla's escape was facilitated by looser security during Ramadan.

Furthermore, the Philippine Securities and Exchange Commission has blocked Binance's online presence due to a lack of required licenses. The Commission emphasizes investor protection, arguing that Binance operates without the necessary permissions