Binance, a global cryptocurrency exchange, is facing scrutiny not only in Brazil but also in multiple countries. The Director of Binance Brazil, Guilherme Haddad, has been summoned by the Brazilian parliament to appear before them as part of an investigation into alleged pyramid schemes operating in the country. The request made by Congressman Alfredo Gaspar is still pending voting by other members of the Parliamentary Commission of Inquiry (CPI) and will take place on June 27. If approved, Haddad will face the Brazilian Chamber of Deputies.
Furthermore, Binance is being investigated by the Federal Prosecutor’s Office and Federal Police in Brazil for allegedly helping clients evade a stop order on cryptocurrency derivatives investments. Additionally, Binance is under pressure from the Comissão de Valores Mobiliários (CVM), the Brazilian equivalent of the United States Securities and Exchange Commission (SEC), to stop offering Bitcoin futures products to Brazilian customers.
Binance is facing regulatory crackdowns globally from authorities in the United States, France, the Netherlands, the United Kingdom, and Brazil. Binance has not provided any comment on these allegations at this time.