{"id":581828,"date":"2023-04-20T21:42:23","date_gmt":"2023-04-20T20:42:23","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=581828"},"modified":"2023-04-20T21:42:31","modified_gmt":"2023-04-20T20:42:31","slug":"brazil-investigates-binance-futures-ban","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/brazil-investigates-binance-futures-ban\/","title":{"rendered":"Binance Under Investigation In Brazil For Helping Clients Evade Futures Ban"},"content":{"rendered":"\n<ul><li>Binance is reportedly under investigation by federal prosecutors and police in Brazil.&nbsp;<\/li><li>The crypto exchange allegedly helped its clients evade a stop order on crypto futures trading.&nbsp;<\/li><li>Futures are deemed securities in Brazil irrespective of the nature of the underlying assets.&nbsp;<\/li><li>The investigation was initiated after Brazil&#8217;s top financial regulator reported suspicious activities at Binance.&nbsp;<\/li><\/ul>\n\n\n\n<p>The world\u2019s largest crypto exchange has once again run into trouble with the law, this time in the South American nation of Brazil. <a href=\"https:\/\/en.ethereumworldnews.com\/binance-refused-justin-suns-huobi-stake\/\">Binance<\/a> is reportedly being investigated in Brazil by the Federal Public Prosecutor&#8217;s Office and the Federal Police of Brazil for allegedly offering securities to its clients by helping them evade a stop order on crypto futures.\u00a0<\/p>\n\n\n\n<h2><strong>Binance Allegedly Offered Derivatives Despite A Stop Order<\/strong><\/h2>\n\n\n\n<p>According to a recent report by Brazil\u2019s <a href=\"https:\/\/valor.globo.com\/financas\/criptomoedas\/noticia\/2023\/04\/18\/ministrio-pblico-e-polcia-federal-investigam-suposto-crime-financeiro-da-binance.ghtml\" rel=\"nofollow noopener\">Valor Econ\u00f4mico<\/a>, the public prosecutor\u2019s office and the federal police are investigating Binance for alleged financial crimes related to the products being offered. The investigation was initiated after Brazil\u2019s Comiss\u00e3o de Valores Mobili\u00e1rios (Securities and Exchange Commission) informed the Attorney General of the State of S\u00e3o Paulo that the crypto exchange may have continued to offer crypto derivatives to Brazilian clients despite a stop order that was issued in 2020.\u00a0<\/p>\n\n\n\n<p>The Brazilian regulator reportedly provided screenshots to the federal police which showed Binance\u2019s support personnel guiding its customers to change the website\u2019s language in order to be able to access the futures trading platform. Futures are deemed securities in Brazil irrespective of the nature of the underlying assets.&nbsp;<\/p>\n\n\n\n<blockquote class=\"wp-block-quote\"><p>(Binance) reiterates that it does not offer derivatives in Brazil, that it operates in compliance with the local regulatory scenario and maintains a permanent dialogue with the authorities for the development of the crypto and blockchain segment in Brazil and in the world.\u201d <\/p><cite>Binance\u2019s statement to Valor Econ\u00f4mico<\/cite><\/blockquote>\n\n\n\n<p>In 2020, the Brazilian Securities and Exchange Commission initiated administrative proceedings against Binance over the crypto derivatives offered on its trading platform. According to the regulator, the crypto exchange\u2019s website had extensive content in Portuguese, which marketed crypto futures that could be traded with up to 125 times leverage after opening an account \u201cin less than 30 seconds\u201d. The website reportedly had no mention of the restrictions on such offerings for clients resigning in Brazil.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Binance is reportedly under investigation by Brazil&#8217;s federal agencies for allegedly helping its clients evade a stop order on crypto derivatives. <\/p>\n","protected":false},"author":62,"featured_media":581628,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[108073,17,22,2,26],"tags":[1119,859,7136,937,5530],"_links":{"self":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/581828"}],"collection":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/users\/62"}],"replies":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/comments?post=581828"}],"version-history":[{"count":2,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/581828\/revisions"}],"predecessor-version":[{"id":581830,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/581828\/revisions\/581830"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media\/581628"}],"wp:attachment":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media?parent=581828"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/categories?post=581828"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/tags?post=581828"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}