Brazil is Investigating the Activities of Binance in the Country

The Brazilian Securities Commission (CVM) banned crypto derivatives for residents of the country, but Binance was still able to offer them.

A February 2023 request from the financial regulator is being investigated by police and prosecutors, according to Valor Econômico.

The platform provided customers with screenshots and guidance on how to change the language settings to access the Binance Futures section.

Binance responded to the allegations by offering to sign a voluntary commitment agreement. However, no decision has been made by the authorities yet.

Binance representatives stated that they do not offer derivatives in Brazil and are in compliance with local laws.