Brazil Watchdog Warns Binance Works Illegally in Country
Main page News, Brazil, Exchange, Cryptocurrency Exchanges, Binance, Regulations

Cryptocurrency exchange Binance does not have authorization from the Securities and Exchange Commission of Brazil (CVM) to offer derivative products in the country.

According to a published statement, the exchange does not have a license to act as a securities intermediary in Brazil.

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The CVM says it remains evident that Binance Futures still offers services via for clients in Brazil.

The watchdog demands Binance to suspend the direct and indirect activity in the country "immediately."

For violating the law, the CVM plans to fine the exchange 1,000 Brazilian reals (~$188) on a daily basis.

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Earlier the Central Bank of Brazil ordered Mastercard and Visa to stop processing WhatsApp payment transactions.

The central bank also threatened to impose fines on Visa and MasterCard if they do not comply with the order to stop processing WhatsApp's payment transactions.

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