The world’s largest cryptocurrency exchange, Binance, is facing a probe in Brazil, with authorities confirming the launch of an official investigation into the exchange.
Authorities allege that Binance failed to respond to a stop order, directing it to stop selling crypto derivatives.
Binance Accused Of Financial Crimes In Brazil
Brazilian authorities have launched an official investigation into Binance, alleging financial crimes facilitated through its derivatives offerings. Authorities also stated that the exchange failed to respond to a stop order, ordering the exchange to stop selling crypto derivatives. Brazilian media speculated that the probe was launched following a tip-off from the Brazil Securities and Exchange Commission (Comissão de Valores Mobiliários – CVM), the country’s primary market regulator.
According to reports, the Brazil Securities and Exchange Commission informed the Attorney General of Sao Paolo that the cryptocurrency exchange allegedly ignored a
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